Zeta Global (NYSE:ZETA) Stock Price Down 7.5% - What's Next?

Key Points

• Zeta Global's stock price fell by 7.5%, closing at $18.16, with a volume decline of 62% compared to its average daily trading volume.
• Several research firms, including Morgan Stanley and Canaccord Genuity, have raised their price targets for Zeta Global, with an average target price now at $30.14.
• Institutional investors hold approximately 87.75% of Zeta Global's stock, indicating strong institutional interest in the company.

Shares of Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report) dropped 7.5% during trading on Tuesday . The stock traded as low as $18.30 and last traded at $18.16. Approximately 2,650,892 shares changed hands during trading, a decline of 62% from the average daily volume of 6,969,993 shares. The stock had previously closed at $19.64.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZETA. Morgan Stanley increased their price objective on Zeta Global from $15.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Wall Street Zen raised Zeta Global from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Canaccord Genuity Group increased their price objective on Zeta Global from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Zacks Research raised Zeta Global from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Finally, Bank of America increased their price objective on Zeta Global from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Zeta Global has an average rating of "Moderate Buy" and a consensus target price of $30.14.

Zeta Global Stock Performance

The stock has a market capitalization of $4.33 billion, a P/E ratio of -96.05 and a beta of 1.30. The firm has a 50-day moving average of $16.80 and a 200 day moving average of $15.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenvale Capital LLP lifted its holdings in shares of Zeta Global by 178.0% during the second quarter. Greenvale Capital LLP now owns 6,951,181 shares of the company's stock valued at $107,674,000 after acquiring an additional 4,451,181 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Zeta Global by 753.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,306,270 shares of the company's stock valued at $85,513,000 after acquiring an additional 5,567,201 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Zeta Global by 3.8% during the second quarter. Geode Capital Management LLC now owns 4,835,620 shares of the company's stock valued at $74,913,000 after acquiring an additional 174,972 shares during the period. State Street Corp lifted its holdings in shares of Zeta Global by 4.8% during the second quarter. State Street Corp now owns 4,671,750 shares of the company's stock valued at $72,365,000 after acquiring an additional 215,932 shares during the period. Finally, Yong Rong HK Asset Management Ltd bought a new position in shares of Zeta Global during the first quarter valued at $38,748,000. 87.75% of the stock is owned by institutional investors.

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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