Zeta Global (NYSE:ZETA) Stock Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• Zeta Global shares rose above their 50-day moving average, trading as high as $32.56 versus a $31.72 average.
• Q3 results beat expectations: EPS was $0.38 versus $0.28 estimated, while revenue reached $492.66 million, up 46.1% year over year. Management also forecast Q4 revenue of $521 million to $525 million.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $37.06; 12 analysts rate the stock Buy, two Hold, and one Sell.

Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report)'s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $31.72 and traded as high as $32.56. Zeta Global shares last traded at $32.3560, with a volume of 10,628,783 shares changing hands.

Trending Headlines about Zeta Global

Here are the key news stories impacting Zeta Global this week:

• Positive Sentiment: Third-quarter earnings were $0.38 per share, above the $0.28 consensus estimate and up from $0.22 a year earlier. Revenue of $492.66 million also topped expectations of $471.08 million. Zacks: Zeta Global Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management characterized this as the company’s 21st consecutive “beat and raise” quarter, reported positive GAAP net income for Q3 and year to date, and said its full-year outlook exceeded expectations. These results may reinforce confidence in Zeta’s growth and execution. Zeta Global earnings announcement
• Positive Sentiment: Zeta expects fourth-quarter revenue of $521 million to $525 million, indicating continued growth after its Q3 beat. Zeta Global Q4 revenue guidance

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Canaccord Genuity Group increased their price target on Zeta Global from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, October 9th. Roth Capital restated a "buy" rating and set a $55.00 price objective (up from $44.00) on shares of Zeta Global in a research note on Monday, October 12th. New Street Research set a $38.00 price objective on shares of Zeta Global in a research note on Friday, October 9th. KeyCorp upped their price objective on shares of Zeta Global from $27.00 to $38.00 and gave the stock an "overweight" rating in a report on Friday, October 9th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Zeta Global in a research report on Friday, October 9th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.06.

Zeta Global Stock Performance

The stock has a market cap of $8.12 billion, a P/E ratio of -1,617.80, a PEG ratio of 4.48 and a beta of 1.25. The company has a fifty day moving average of $31.72 and a 200 day moving average of $22.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.38 and a quick ratio of 2.38.

Zeta Global (NYSE:ZETA - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.10. Zeta Global had a positive return on equity of 5.32% and a negative net margin of 0.15%. The firm had revenue of $492.66 million during the quarter, compared to analyst estimates of $471.08 million. During the same period last year, the company posted $0.18 EPS. The firm's quarterly revenue was up 46.1% on a year-over-year basis. On average, equities analysts predict that Zeta Global Holdings Corp. will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in Zeta Global by 47.7% in the first quarter. Bank of America Corp DE now owns 3,853,723 shares of the company's stock worth $61,351,000 after acquiring an additional 1,244,057 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zeta Global by 75.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,864,071 shares of the company's stock valued at $45,583,000 after purchasing an additional 1,234,412 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Zeta Global by 7,696.7% during the 1st quarter. Principal Financial Group Inc. now owns 868,239 shares of the company's stock valued at $13,822,000 after purchasing an additional 857,103 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Zeta Global in the 2nd quarter worth approximately $8,380,000. Finally, Summit Creek Advisors LLC acquired a new position in shares of Zeta Global in the 2nd quarter worth approximately $6,338,000. Institutional investors own 87.75% of the company's stock.

About Zeta Global

Zeta Global is a marketing technology company that helps businesses use consumer data and artificial intelligence to plan and deliver digital marketing. Its platform combines data, analytics and campaign tools to help organizations identify audiences and engage customers throughout the marketing lifecycle.

The company's products support marketing activities such as customer acquisition, engagement and retention across channels including email, mobile, social media and the web. Zeta's offerings include its Zeta Marketing Platform and the Zeta Data Cloud, which help clients manage audience insights and coordinate campaigns.

Founded in 2007 and headquartered in New York, Zeta Global serves businesses in multiple markets.

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