Zeta Global (NYSE:ZETA) Shares Gap Down - Here's What Happened

Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $22.32, but opened at $21.82. Zeta Global shares last traded at $21.23, with a volume of 1,838,610 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZETA. Needham & Company LLC reaffirmed a "buy" rating and issued a $43.00 price target on shares of Zeta Global in a report on Tuesday, December 10th. The Goldman Sachs Group started coverage on shares of Zeta Global in a research report on Wednesday, December 11th. They set a "neutral" rating and a $30.00 target price for the company. Morgan Stanley reduced their price target on shares of Zeta Global from $41.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, November 15th. Bank of America increased their price target on shares of Zeta Global from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, KeyCorp lowered shares of Zeta Global from an "overweight" rating to a "sector weight" rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.86.

Zeta Global Trading Down 3.6 %

The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -30.74 and a beta of 1.12. The company's 50-day moving average price is $25.96 and its 200-day moving average price is $23.53.

Zeta Global (NYSE:ZETA - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.26). The company had revenue of $268.30 million during the quarter, compared to analyst estimates of $252.68 million. Zeta Global had a negative net margin of 13.35% and a negative return on equity of 45.22%. The company's revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.27) earnings per share. Equities analysts expect that Zeta Global Holdings Corp. will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Steven H. Gerber acquired 13,250 shares of the business's stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $18.55 per share, for a total transaction of $245,787.50. Following the completion of the transaction, the chief operating officer now directly owns 2,940,811 shares of the company's stock, valued at approximately $54,552,044.05. The trade was a 0.45 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher E. Greiner acquired 7,975 shares of the company's stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $18.80 per share, for a total transaction of $149,930.00. Following the purchase, the chief financial officer now directly owns 2,330,010 shares in the company, valued at approximately $43,804,188. This trade represents a 0.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 129,901 shares of company stock valued at $2,471,244 in the last 90 days. 25.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zeta Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates lifted its position in shares of Zeta Global by 236.3% in the 2nd quarter. Raymond James & Associates now owns 79,289 shares of the company's stock worth $1,399,000 after acquiring an additional 55,709 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Zeta Global during the second quarter valued at $394,000. Calamos Advisors LLC lifted its position in Zeta Global by 112.0% in the 2nd quarter. Calamos Advisors LLC now owns 174,188 shares of the company's stock valued at $3,074,000 after acquiring an additional 92,020 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Zeta Global by 38.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 611,357 shares of the company's stock worth $10,790,000 after purchasing an additional 171,001 shares during the last quarter. Finally, SlateStone Wealth LLC raised its holdings in Zeta Global by 24.5% during the 2nd quarter. SlateStone Wealth LLC now owns 15,424 shares of the company's stock valued at $272,000 after acquiring an additional 3,038 shares during the period. 87.75% of the stock is owned by institutional investors and hedge funds.

Zeta Global Company Profile

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.