Canaccord Genuity Group Issues Positive Forecast for Zeta Global (NYSE:ZETA) Stock Price

Key Points

• Canaccord Genuity Group has raised its target price for Zeta Global (NYSE:ZETA) from $26.00 to $28.00, indicating a potential upside of 39.20% from the current stock price and maintaining a "buy" rating.
• A mix of analysts has issued varied price targets for Zeta Global, with the average consensus rating being "Moderate Buy" and an overall average target price of $30.00.
• Institutional investors collectively own 87.75% of Zeta Global's stock, highlighting strong institutional interest and recent significant increases in holdings by firms such as UBS and Renaissance Technologies.

Zeta Global (NYSE:ZETA - Get Free Report) had its target price increased by investment analysts at Canaccord Genuity Group from $26.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 39.20% from the company's current price.

A number of other equities research analysts have also recently weighed in on ZETA. B. Riley cut their price target on Zeta Global from $44.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley raised their price objective on shares of Zeta Global from $15.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday. Bank of America raised their price objective on shares of Zeta Global from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday. Royal Bank Of Canada lowered their price objective on shares of Zeta Global from $40.00 to $30.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, Needham & Company LLC lowered their price objective on shares of Zeta Global from $43.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Zeta Global Stock Performance

NYSE ZETA traded up $4.25 during trading hours on Wednesday, reaching $20.12. The company's stock had a trading volume of 40,216,154 shares, compared to its average volume of 6,706,802. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $14.58 and a 200 day simple moving average of $15.27. Zeta Global has a 52 week low of $10.69 and a 52 week high of $38.20. The stock has a market cap of $4.74 billion, a PE ratio of -68.30, a PEG ratio of 58.94 and a beta of 1.28.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Zeta Global by 753.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,306,270 shares of the company's stock worth $85,513,000 after acquiring an additional 5,567,201 shares during the period. Renaissance Technologies LLC raised its holdings in Zeta Global by 98.8% in the 4th quarter. Renaissance Technologies LLC now owns 4,719,762 shares of the company's stock worth $84,909,000 after acquiring an additional 2,345,562 shares during the period. Geode Capital Management LLC raised its holdings in Zeta Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 4,573,271 shares of the company's stock worth $82,470,000 after acquiring an additional 306,592 shares during the period. Yong Rong HK Asset Management Ltd bought a new position in shares of Zeta Global during the 1st quarter worth about $38,748,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Zeta Global during the 4th quarter worth about $51,042,000. Institutional investors own 87.75% of the company's stock.

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.

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