Zeta Global (NASDAQ:ZETA) Shares Gap Up on Analyst Upgrade

Zeta Global Holdings Corp. (NASDAQ:ZETA - Get Free Report) shares gapped up prior to trading on Thursday after Bank of America raised their price target on the stock from $30.00 to $36.00. The stock had previously closed at $29.63, but opened at $32.00. Bank of America currently has a buy rating on the stock. Zeta Global shares last traded at $30.06, with a volume of 1,216,736 shares trading hands.

Several other brokerages also recently commented on ZETA. Canaccord Genuity Group raised their price objective on Zeta Global from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. B. Riley restated a "buy" rating and set a $30.00 price objective (up from $24.00) on shares of Zeta Global in a research note on Thursday, August 1st. DA Davidson raised their target price on shares of Zeta Global from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Monday. Truist Financial restated a "buy" rating and issued a $30.00 price objective (up previously from $23.00) on shares of Zeta Global in a research note on Thursday, August 1st. Finally, Barclays increased their price target on shares of Zeta Global from $18.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $31.50.

Institutional Trading of Zeta Global

Several institutional investors and hedge funds have recently modified their holdings of ZETA. Vanguard Group Inc. raised its position in Zeta Global by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 16,717,605 shares of the company's stock worth $182,723,000 after purchasing an additional 431,077 shares during the last quarter. Granahan Investment Management LLC lifted its stake in shares of Zeta Global by 15.3% in the fourth quarter. Granahan Investment Management LLC now owns 8,112,729 shares of the company's stock worth $71,554,000 after acquiring an additional 1,076,208 shares during the period. Clearbridge Investments LLC boosted its holdings in Zeta Global by 2.6% in the first quarter. Clearbridge Investments LLC now owns 3,030,639 shares of the company's stock valued at $33,125,000 after acquiring an additional 77,962 shares during the last quarter. Capital World Investors acquired a new stake in Zeta Global during the 4th quarter valued at approximately $23,560,000. Finally, Ophir Asset Management Pty Ltd bought a new position in Zeta Global during the 4th quarter worth approximately $19,682,000. 75.82% of the stock is currently owned by institutional investors.

Zeta Global Stock Up 0.4 %

The stock's 50-day moving average price is $24.74 and its 200-day moving average price is $18.12. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.85. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of -28.07 and a beta of 1.26.

Zeta Global (NASDAQ:ZETA - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.26). Zeta Global had a negative net margin of 17.76% and a negative return on equity of 79.03%. The firm had revenue of $227.80 million during the quarter, compared to analyst estimates of $212.44 million. During the same quarter in the previous year, the firm earned ($0.32) EPS. Zeta Global's quarterly revenue was up 32.6% on a year-over-year basis. On average, sell-side analysts expect that Zeta Global Holdings Corp. will post -0.43 earnings per share for the current year.

About Zeta Global

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. The company's Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry's opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent.