Zeta Global (NYSE:ZETA) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised Zeta Global’s price target from $29 to $34 and maintained a “buy” rating, implying approximately 18.2% upside from the stock’s reported $28.76 price.
• Analyst sentiment is broadly positive: Zeta has a consensus “Moderate Buy” rating, with 10 Buy, four Hold, and one Sell rating, and an average price target of $30.77.
• Zeta’s quarterly revenue rose 43.6% year over year to $442.77 million, exceeding estimates, although adjusted EPS of $0.03 missed the $0.20 consensus forecast. Institutional investors own 87.75% of the company.

Zeta Global (NYSE:ZETA - Get Free Report) had its target price raised by stock analysts at Bank of America from $29.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective would suggest a potential upside of 18.22% from the stock's current price.

A number of other brokerages have also commented on ZETA. Wall Street Zen raised Zeta Global from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. William Blair set a $29.00 price target on shares of Zeta Global in a research report on Thursday, August 6th. Needham & Company LLC upped their price target on shares of Zeta Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. B. Riley Financial reissued a "buy" rating and set a $32.00 target price (up from $30.00) on shares of Zeta Global in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on Zeta Global from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $30.77.

Zeta Global Stock Performance

NYSE ZETA traded up $0.53 on Wednesday, hitting $28.76. The stock had a trading volume of 2,257,446 shares, compared to its average volume of 8,915,578. The company's 50-day moving average is $22.12 and its two-hundred day moving average is $19.26. Zeta Global has a one year low of $14.36 and a one year high of $29.89. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of -1,437.80, a P/E/G ratio of 4.10 and a beta of 1.39. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.21.

Zeta Global (NYSE:ZETA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.17). Zeta Global had a positive return on equity of 5.32% and a negative net margin of 0.15%.The business had revenue of $442.77 million for the quarter, compared to analyst estimates of $420.61 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The business's quarterly revenue was up 43.6% on a year-over-year basis. On average, analysts expect that Zeta Global will post 0.21 earnings per share for the current year.

Insider Activity at Zeta Global

In related news, Director Jeanine Silberblatt sold 7,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $19.89, for a total transaction of $149,175.00. Following the completion of the sale, the director directly owned 50,350 shares of the company's stock, valued at $1,001,461.50. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.74% of the stock is owned by insiders.

Institutional Investors Weigh In On Zeta Global

A number of institutional investors and hedge funds have recently modified their holdings of ZETA. Vanguard Group Inc. grew its holdings in shares of Zeta Global by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 23,051,314 shares of the company's stock worth $469,094,000 after acquiring an additional 1,325,717 shares during the last quarter. Contour Asset Management LLC lifted its stake in Zeta Global by 26.3% during the fourth quarter. Contour Asset Management LLC now owns 11,162,626 shares of the company's stock valued at $227,159,000 after buying an additional 2,327,907 shares in the last quarter. Disciplined Growth Investors Inc. MN acquired a new position in shares of Zeta Global in the third quarter worth about $121,502,000. Goldman Sachs Group Inc. increased its position in shares of Zeta Global by 13.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,582,446 shares of the company's stock worth $113,603,000 after acquiring an additional 673,145 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Zeta Global by 0.7% during the fourth quarter. Capital World Investors now owns 5,013,776 shares of the company's stock valued at $102,030,000 after acquiring an additional 33,923 shares during the period. Institutional investors and hedge funds own 87.75% of the company's stock.

About Zeta Global

Zeta Global, founded in 2007 and headquartered in New York City, is a leading data-driven marketing technology company. The firm's mission centers on helping brands acquire, grow and retain customers through a unified customer lifecycle management platform. Over the years, Zeta Global has built a reputation for leveraging big data and predictive analytics to power digital marketing programs across multiple channels.

At the core of Zeta's offering is the Zeta Marketing Platform, which combines identity resolution, audience insights and real-time engagement capabilities.

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