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

Key Points

• Zeta Global's shares gapped up from $19.77 to $20.82 after Truist Financial raised its price target from $34.00 to $36.00, maintaining a buy rating on the stock.
• Analysts from various firms have expressed positive views on Zeta Global, with ten out of sixteen analysts rating the stock as a buy and an average price target of $29.54.
• Significant institutional investment has been noted, with hedge funds owning 87.75% of the stock and China Universal Asset Management increasing its holdings by 228.6% in the most recent quarter.

Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report) shares gapped up before the market opened on Thursday after Truist Financial raised their price target on the stock from $34.00 to $36.00. The stock had previously closed at $19.77, but opened at $20.82. Truist Financial currently has a buy rating on the stock. Zeta Global shares last traded at $20.28, with a volume of 2,304,902 shares trading hands.

A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Zeta Global in a research note on Thursday. William Blair reissued an "outperform" rating on shares of Zeta Global in a research note on Wednesday, October 1st. The Goldman Sachs Group lifted their price objective on shares of Zeta Global from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Zeta Global from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, Canaccord Genuity Group lifted their price target on shares of Zeta Global from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zeta Global currently has a consensus rating of "Moderate Buy" and an average price target of $29.54.

Hedge Funds Weigh In On Zeta Global

Large investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings in Zeta Global by 228.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 115,000 shares of the company's stock valued at $1,559,000 after buying an additional 80,000 shares in the last quarter. Summit Creek Advisors LLC lifted its holdings in Zeta Global by 33.6% during the 1st quarter. Summit Creek Advisors LLC now owns 1,047,677 shares of the company's stock valued at $14,206,000 after buying an additional 263,451 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Zeta Global during the 1st quarter valued at about $360,000. Yong Rong HK Asset Management Ltd bought a new stake in Zeta Global during the 1st quarter valued at about $38,748,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Zeta Global during the 1st quarter valued at about $162,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

Zeta Global Stock Up 2.9%

The business's fifty day moving average is $19.32 and its two-hundred day moving average is $15.70. The company has a market cap of $4.84 billion, a P/E ratio of -107.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.25 and a current ratio of 3.25.

About Zeta Global

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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