Zeta Global (NYSE:ZETA) Trading Up 5.8% - Here's Why

Key Points

• Zeta Global's share price increased by 5.8%, reaching a last traded price of $19.62, even with a significant drop in trading volume.
• Analysts remain optimistic, with ten ratings for a "Buy," as price targets have been raised by firms like Goldman Sachs and Canaccord Genuity Group, indicating a consensus target price of $29.54.
• Institutional ownership stands at 87.75%, reflecting strong interest from large investors, with notable increases in stakes from firms such as William Blair Investment Management and China Universal Asset Management.

Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report)'s share price shot up 5.8% during mid-day trading on Tuesday . The stock traded as high as $19.48 and last traded at $19.62. 2,111,040 shares changed hands during trading, a decline of 70% from the average session volume of 7,122,432 shares. The stock had previously closed at $18.54.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ZETA shares. The Goldman Sachs Group upped their price objective on Zeta Global from $16.00 to $18.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley upped their target price on Zeta Global from $15.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Zeta Global in a research note on Thursday, October 9th. Finally, Truist Financial lifted their target price on shares of Zeta Global from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Zeta Global currently has an average rating of "Moderate Buy" and a consensus target price of $29.54.

Zeta Global Stock Up 4.8%

The company's fifty day simple moving average is $19.55 and its 200 day simple moving average is $15.98. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $4.62 billion, a P/E ratio of -102.13 and a beta of 1.29.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC boosted its stake in Zeta Global by 37.3% during the second quarter. William Blair Investment Management LLC now owns 1,247,870 shares of the company's stock worth $19,330,000 after acquiring an additional 339,247 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in 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 worth $1,559,000 after purchasing an additional 80,000 shares in the last quarter. Summit Creek Advisors LLC increased its stake 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 purchasing an additional 263,451 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Zeta Global in the first quarter worth about $360,000. Finally, Yong Rong HK Asset Management Ltd bought a new position in shares of Zeta Global in the first quarter worth approximately $38,748,000. 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.

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