Zeta Global (NYSE:ZETA) Shares Down 4.2% - Here's What Happened

Key Points

• Zeta Global shares fell 4.2% to approximately $29.83 in Tuesday trading, with volume down 85% from the stock’s average daily volume.
• The company’s latest quarterly results were mixed: revenue rose 43.6% year over year to $442.77 million and beat estimates, but EPS of $0.03 missed the $0.20 consensus forecast.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $30.77; institutional investors own 87.75% of the company after several funds increased their stakes.

Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report) traded down 4.2% on Tuesday . The company traded as low as $30.07 and last traded at $29.8320. 1,252,142 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 8,593,142 shares. The stock had previously closed at $31.15.

Wall Street Analyst Weigh In

ZETA has been the subject of several recent research reports. The Goldman Sachs Group set a $28.00 target price on shares of Zeta Global and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Zeta Global in a research note on Friday, July 17th. B. Riley Financial reiterated a "buy" rating and set a $32.00 price target (up from $30.00) on shares of Zeta Global in a research report on Wednesday, August 5th. Freedom Capital downgraded Zeta Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Finally, William Blair set a $29.00 price objective on Zeta Global in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Zeta Global has a consensus rating of "Moderate Buy" and an average target price of $30.77.

Zeta Global Stock Down 3.6%

The firm's 50 day simple moving average is $26.99 and its 200 day simple moving average is $21.52. The company has a market cap of $7.54 billion, a price-to-earnings ratio of -1,502.10, a price-to-earnings-growth ratio of 4.27 and a beta of 1.43. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.21.

Zeta Global (NYSE:ZETA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $442.77 million for the quarter, compared to analyst estimates of $420.61 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The business's quarterly revenue was up 43.6% on a year-over-year basis. Sell-side analysts anticipate that Zeta Global Holdings Corp. will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZETA. Royal Bank of Canada raised its holdings in shares of Zeta Global by 69.8% during the first quarter. Royal Bank of Canada now owns 558,179 shares of the company's stock valued at $8,887,000 after acquiring an additional 229,533 shares during the period. Cetera Investment Advisers grew its stake in Zeta Global by 133.5% during the first quarter. Cetera Investment Advisers now owns 79,181 shares of the company's stock worth $1,261,000 after buying an additional 45,264 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Zeta Global by 31.7% in the 1st quarter. California State Teachers Retirement System now owns 227,521 shares of the company's stock valued at $3,622,000 after buying an additional 54,703 shares during the period. Strs Ohio increased its stake in shares of Zeta Global by 1,102.2% in the 1st quarter. Strs Ohio now owns 54,100 shares of the company's stock valued at $861,000 after acquiring an additional 49,600 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Zeta Global during the 2nd quarter valued at about $2,148,000. Institutional investors own 87.75% of the company's stock.

Zeta Global Company Profile

Zeta Global Holdings Corp. is a marketing technology company that helps brands acquire, grow and retain customers. Its platform combines consumer data, artificial intelligence and marketing automation to support audience identification, campaign planning, personalization and measurement across digital and traditional channels.

The company's principal offering is the Zeta Marketing Platform, which is designed to provide marketers with tools for managing customer data, generating insights and executing multichannel campaigns.

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