Zeta Global (NYSE:ZETA) Shares Gap Up Following Analyst Upgrade

Key Points

• Zeta Global's shares rose sharply after Canaccord Genuity upgraded their price target from $28.00 to $30.00, with the stock opening at $20.65 from a previous close of $19.87.
• The company currently has a consensus rating of "Moderate Buy" among ten analysts, with an average target price of $29.38.
• Institutional investors hold 87.75% of Zeta Global's stock, indicating strong institutional interest and confidence in the company's future prospects.

Shares of Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report) gapped up before the market opened on Wednesday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $30.00. The stock had previously closed at $19.87, but opened at $20.65. Canaccord Genuity Group currently has a buy rating on the stock. Zeta Global shares last traded at $20.68, with a volume of 2,665,830 shares traded.

A number of other brokerages have also recently issued reports on ZETA. Zacks Research raised Zeta Global from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Bank of America upped their price objective on Zeta Global from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. DA Davidson lifted their target price on shares of Zeta Global from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. The Goldman Sachs Group upped their price target on shares of Zeta Global from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley boosted their price objective on shares of Zeta Global from $15.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Zeta Global has a consensus rating of "Moderate Buy" and an average target price of $29.38.

Institutional Investors Weigh In On Zeta Global

A number of large investors have recently bought and sold shares of ZETA. Golden State Wealth Management LLC raised its holdings in shares of Zeta Global by 2,000.0% during the second quarter. Golden State Wealth Management LLC now owns 1,680 shares of the company's stock valued at $26,000 after purchasing an additional 1,600 shares during the period. Bartlett & CO. Wealth Management LLC acquired a new position in Zeta Global during the 1st quarter worth approximately $27,000. Quarry LP boosted its holdings in Zeta Global by 963.9% in the first quarter. Quarry LP now owns 2,181 shares of the company's stock worth $30,000 after acquiring an additional 1,976 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Zeta Global in the first quarter valued at approximately $32,000. Finally, Traub Capital Management LLC bought a new stake in shares of Zeta Global during the second quarter valued at approximately $50,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Zeta Global Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 3.25 and a quick ratio of 3.25. The company has a fifty day moving average price of $18.87 and a 200 day moving average price of $15.49. The stock has a market cap of $4.92 billion, a P/E ratio of -107.53 and a beta of 1.30.

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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