Zeta Global (NYSE:ZETA) Stock Price Up 4.3% - Here's Why

Zeta Global Holdings Corp. (NYSE:ZETA) experienced a notable increase of 4.3% during mid-day trading on Friday. The stock reached a high of $22.86 and was last seen at $22.67, with a total of 3,329,290 shares exchanged. This marks a decrease in trading volume compared to the usual average of 3,746,013 shares. Prior to this, the stock had closed at $21.73.

Analyst Ratings and Target Price Adjustments

Recently, several equities research analysts have weighed in on ZETA shares. Oppenheimer raised their price target from $33.00 to $42.00, maintaining an "outperform" rating in a report dated November 12. Canaccord Genuity Group upgraded their target from $24.00 to $28.00 and assigned a "buy" rating on November 20. The Goldman Sachs Group began coverage on Zeta Global, issuing a "neutral" rating with a target price of $30.00. Royal Bank of Canada reiterated an "outperform" rating with a price goal of $43.00, while Craig Hallum raised their target from $37.00 to $45.00 and gave a "buy" rating. Overall, four analysts assigned a hold rating, eleven recommended buying, and one expressed a strong buy sentiment. Currently, Zeta Global has a consensus rating of "Moderate Buy" with an average price target of $37.86.

Company Financials and Earnings Report

The performance metrics for Zeta Global indicate a debt-to-equity ratio of 0.41, a quick ratio of 3.32, and a current ratio of 3.32. The company’s 50-day moving average stands at $26.31, while its 200-day moving average is $23.37. Zeta Global released its quarterly earnings data on November 11, reporting earnings of ($0.09) per share, which lagged behind analysts' predictions of $0.17 by a significant margin. However, revenue for the quarter came in at $268.30 million, exceeding the consensus estimate of $252.68 million. Although the company reported a negative net margin of 13.35% and a return on equity of -45.22%, revenue saw a strong increase of 42.0% year-over-year, compared to the same quarter last year when they posted ($0.27) earnings per share. Analysts predict an average EPS of -0.16 for the current fiscal year.

Insider Transactions

In related news, CFO Christopher E. Greiner recently acquired 7,975 shares on November 18 at an average price of $18.80, totaling $149,930. Following this purchase, he now holds 2,330,010 shares valued at approximately $43,804,188, showing a 0.34% increase in his holdings. Additionally, CEO David Steinberg bought 53,676 shares on the same day for an average of $19.24 per share, with a total cost of $1,032,726.24. This transaction increased his position by 461.37%, bringing his total shares to 65,310, valued at $1,256,564.40. In the last 90 days, insiders purchased a total of 129,901 shares worth $2,471,244, indicating that insiders now own 25.54% of the company's stock.

Institutional Ownership Changes

Recent changes among institutional investors illustrate heightened interest in Zeta Global. Wolff Wiese Magana LLC established a new position valued at $26,000 during the third quarter. Quest Partners LLC significantly increased its stake by 1,718.9% in the second quarter, bringing their total ownership to 2,310 shares worth $41,000 after acquiring an additional 2,183 shares last quarter. Similarly, Farther Finance Advisors LLC grew its involvement by 3,885.7% during the third quarter, ending with 1,395 shares valued at $42,000 following the purchase of 1,360 additional shares. Other institutional investors also expanded their holdings at various levels. Overall, institutional investors now own approximately 87.75% of Zeta Global's stock.

About Zeta Global

Zeta Global Holdings Corp. operates a data-driven cloud platform that aids enterprises in gaining consumer insights and executing marketing automation. The company’s Zeta Marketing Platform leverages vast amounts of structured and unstructured data to predict consumer behavior through advanced machine learning techniques, along with an opted-in data set for comprehensive marketing strategies. Additionally, the Consumer Data platform consolidates diverse data sources to create a comprehensive view of consumer identity, characteristics, behaviors, and purchase intentions.

Zeta, Stock, Investment