Zeta Global Receives Outperform Rating from Royal Bank of Canada

On October 12, 2024, the Royal Bank of Canada reaffirmed its outperform rating for Zeta Global (NYSE:ZETA) in a research note published on Wednesday morning. The bank has set a target price of $34.00 for the shares of the company.

Several other financial analysts have also recently analyzed Zeta Global. Roth MKM raised their price target from $33.00 to $44.00, providing Zeta Global with a buy rating in a note released on October 1st. Additionally, Bank of America increased their price estimate from $30.00 to $36.00 on September 26th and assigned a buy rating to the stock. On September 27th, Craig Hallum also raised their target price from $35.00 to $37.00 while giving the company a buy rating. In contrast, Morgan Stanley downgraded Zeta Global from an overweight rating to an equal weight rating and set a new target price of $30.00 on August 1st, an increase from the previous $18.00 target. Oppenheimer similarly raised their target from $20.00 to $29.00 and gave Zeta Global an outperform rating on the same date. Currently, one analyst rates the stock as hold, twelve have given it a buy rating, and one assigns a strong buy rating. MarketBeat.com indicates a consensus rating of Buy for the company with an average price target of $35.00.

Zeta Global Stock Performance

Zeta Global's shares were priced at $31.66 when the market opened on Wednesday. The company possesses a current ratio of 1.98 and a quick ratio of 1.98, with a debt-to-equity ratio of 0.85. Over the past year, Zeta Global has reached a low of $7.38 and a high of $34.14. The market capitalization of the company stands at $6.93 billion, featuring a price-to-earnings (P/E) ratio of -29.87 and a beta of 1.27. Its 50-day simple moving average is $26.81, while the two-hundred day average is $19.64.

Zeta Global last disclosed its quarterly earnings on July 31st, revealing an earnings per share (EPS) of ($0.16), which fell short of the consensus estimate of $0.10 by ($0.26). The revenue reported for the quarter was $227.80 million, surpassing analysts' expectations of $212.44 million. however, Zeta Global experienced a negative return on equity of 79.03% and a negative net margin of 17.76%. Compared to the same quarter last year, the company’s revenue increased by 32.6%. Last year, during the same quarter, Zeta Global reported an EPS of ($0.32). Looking ahead, analysts project Zeta Global to record an earnings per share of -0.41 for the current year.

Institutional Investment Activity

In recent quarters, various institutional investors and hedge funds have adjusted their positions in Zeta Global. Regal Investment Advisors LLC raised its stake in the company by 5.2% during the fourth quarter, now owning 55,366 shares valued at $488,000 after adding 2,748 shares. Scalar Gauge Management LLC purchased a new stake in Zeta Global, worth $6,411,000 during the same period. Granahan Investment Management LLC increased its stake in Zeta Global by 15.3% during the fourth quarter, holding 8,112,729 shares valued at $71,554,000 after acquiring an additional 1,076,208 shares. Ophir Asset Management Pty Ltd also took a new position valued at $19,682,000 during the fourth quarter. Furthermore, Vanguard Group Inc. raised its stake by 2.3%, owning 16,286,528 shares valued at $143,647,000 after buying an additional 370,912 shares. Currently, institutional and other investors collectively hold 75.82% of Zeta Global's stock.

About Zeta Global

Zeta Global Holdings Corp. operates a cloud platform driven by data, offering businesses consumer intelligence and marketing automation software both domestically and internationally. The Zeta Marketing Platform leverages advanced machine learning algorithms to analyze billions of data points, predicting consumer intent while utilizing an opted-in data set for integrated marketing. Additionally, the Consumer Data Platform compiles and analyzes varied data to create a comprehensive view of consumers, encompassing their identity, characteristics, behavior, and purchase intentions.

Zeta, Global, Investment