Zeta Global (NYSE:ZETA) Given New $40.00 Price Target at Needham & Company LLC

Key Points

• Needham raised Zeta Global’s price target to $40 from $30 and maintained a “buy” rating, implying 21.15% upside. Analysts collectively hold a “Moderate Buy” consensus with an average target of $32.64.
• Zeta Global reported quarterly revenue of $442.77 million, up 43.6% year over year and above estimates, but EPS of $0.03 missed expectations of $0.20.
• ZETA opened at $33.02 after a 2.1% decline, with shares near their 52-week high of $34.80. Institutional investors and hedge funds own 87.75% of the stock.

Zeta Global (NYSE:ZETA - Get Free Report) had its target price upped by analysts at Needham & Company LLC from $30.00 to $40.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 21.15% from the company's current price.

ZETA has been the subject of a number of other research reports. Freedom Capital downgraded shares of Zeta Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. The Goldman Sachs Group set a $28.00 price objective on shares of Zeta Global and gave the company a "neutral" rating in a research report on Wednesday, June 24th. Citigroup upped their target price on Zeta Global from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. William Blair set a $29.00 target price on Zeta Global in a report on Thursday, August 6th. Finally, Bank of America boosted their price target on Zeta Global from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Zeta Global has a consensus rating of "Moderate Buy" and an average price target of $32.64.

Zeta Global Stock Down 2.1%

ZETA stock opened at $33.02 on Friday. Zeta Global has a 52 week low of $14.36 and a 52 week high of $34.80. The business has a 50-day simple moving average of $29.61 and a 200 day simple moving average of $22.73. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.21. The company has a market cap of $8.29 billion, a PE ratio of -1,650.90, a price-to-earnings-growth ratio of 4.76 and a beta of 1.39.

Zeta Global (NYSE:ZETA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.17). Zeta Global had a positive return on equity of 5.32% and a negative net margin of 0.15%.The firm had revenue of $442.77 million for the quarter, compared to analyst estimates of $420.61 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The company's quarterly revenue was up 43.6% on a year-over-year basis. Sell-side analysts anticipate that Zeta Global will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its holdings in Zeta Global by 4.3% in the second quarter. Integrated Wealth Concepts LLC now owns 11,262 shares of the company's stock worth $222,000 after purchasing an additional 469 shares during the period. Versant Capital Management Inc raised its holdings in shares of Zeta Global by 54.9% during the third quarter. Versant Capital Management Inc now owns 1,340 shares of the company's stock valued at $42,000 after purchasing an additional 475 shares during the period. Essential Partners LLC raised its holdings in shares of Zeta Global by 30.9% during the first quarter. Essential Partners LLC now owns 2,670 shares of the company's stock valued at $43,000 after purchasing an additional 630 shares during the period. Hsbc Holdings PLC boosted its position in shares of Zeta Global by 2.3% during the 4th quarter. Hsbc Holdings PLC now owns 34,938 shares of the company's stock worth $724,000 after purchasing an additional 793 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of Zeta Global by 66.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 2,167 shares of the company's stock valued at $34,000 after buying an additional 867 shares during the period. 87.75% of the stock is owned by institutional investors and hedge funds.

Zeta Global Company Profile

Zeta Global is a technology company that provides data-driven marketing and customer-experience solutions to brands and agencies. Its platform helps organizations acquire, grow and retain customers by combining consumer data, artificial intelligence and marketing automation across digital channels.

The company's offerings include the Zeta Marketing Platform, which supports audience discovery, campaign planning, activation, personalization and measurement. Zeta also provides data-management and analytics capabilities through its proprietary data assets, helping marketers develop customer insights and deliver coordinated campaigns across channels such as email, online advertising, connected television and other digital media.

Founded in 2007, Zeta Global serves enterprise marketers and agencies, primarily in the United States and other markets where digital advertising and customer-engagement services are in demand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.