Zeta Global (NYSE:ZETA) Given New $24.00 Price Target at Bank of America

Key Points

• Bank of America has raised its price objective for Zeta Global from $20.00 to $24.00, indicating a potential upside of 50.38% based on the stock's current price.
• Zeta Global has received mixed ratings from various brokerages, with four analysts issuing hold ratings and eleven assigning a buy rating, contributing to an average target price of $29.50.
• In its recent earnings report, Zeta Global posted a negative net margin of 4.82% despite a revenue increase of 35.4% year-over-year.

Zeta Global (NYSE:ZETA - Get Free Report) had its price objective lifted by equities researchers at Bank of America from $20.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 28.14% from the stock's previous close.

Other research analysts also recently issued reports about the stock. Royal Bank Of Canada lowered their price target on shares of Zeta Global from $40.00 to $30.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Morgan Stanley lowered their target price on shares of Zeta Global from $25.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Canaccord Genuity Group decreased their target price on Zeta Global from $28.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. DA Davidson reduced their price target on shares of Zeta Global from $42.00 to $25.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Truist Financial reduced their price target on shares of Zeta Global from $42.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Zeta Global currently has a consensus rating of "Moderate Buy" and an average price target of $30.14.

Zeta Global Price Performance

ZETA stock traded down $0.85 during midday trading on Wednesday, reaching $18.73. The company had a trading volume of 13,081,854 shares, compared to its average volume of 11,473,178. The stock has a 50 day moving average price of $14.96 and a 200-day moving average price of $15.31. Zeta Global has a 1-year low of $10.69 and a 1-year high of $38.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.25 and a quick ratio of 3.33. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -98.58, a price-to-earnings-growth ratio of 63.96 and a beta of 1.28.

Hedge Funds Weigh In On Zeta Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its position in shares of Zeta Global by 228.6% in 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 acquiring an additional 80,000 shares during the period. Summit Creek Advisors LLC boosted its stake in shares of Zeta Global by 33.6% during the 1st quarter. Summit Creek Advisors LLC now owns 1,047,677 shares of the company's stock worth $14,206,000 after acquiring an additional 263,451 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Zeta Global during the first quarter worth approximately $360,000. Cetera Investment Advisers purchased a new position in Zeta Global during the fourth quarter valued at $538,000. Finally, Yong Rong HK Asset Management Ltd purchased a new position in Zeta Global in the 1st quarter valued at about $38,748,000. Hedge funds and other institutional investors own 87.75% of the company's stock.

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.