Zeta Global (NYSE:ZETA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Zeta Global (NYSE:ZETA) had its target price increased by analysts at Canaccord Genuity Group from $35.00 to $42.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 36.85% from the stock’s current price.

A number of other brokerages have also recently issued reports on ZETA. KeyCorp started coverage on Zeta Global in a report on Tuesday, October 22nd. They set an “overweight” rating and a $40.00 target price on the stock. Barclays downgraded shares of Zeta Global from an “overweight” rating to an “equal weight” rating and set a $28.00 target price for the company. in a research note on Friday, October 18th. DA Davidson boosted their price target on shares of Zeta Global from $35.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Craig Hallum boosted their target price on Zeta Global from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC raised their price target on Zeta Global from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zeta Global currently has an average rating of “Buy” and a consensus price target of $37.69.

Zeta Global Price Performance

NYSE:ZETA traded down $6.05 during mid-day trading on Tuesday, hitting $30.69. The company’s stock had a trading volume of 7,038,333 shares, compared to its average volume of 2,609,179. Zeta Global has a fifty-two week low of $7.65 and a fifty-two week high of $38.20. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -34.89 and a beta of 1.29. The stock has a fifty day moving average of $28.99 and a 200-day moving average of $22.40. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.85.

Zeta Global (NYSE:ZETA) last posted its quarterly earnings data on Monday, November 11th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.26). Zeta Global had a negative return on equity of 79.03% and a negative net margin of 17.76%. The business had revenue of $268.30 million during the quarter, compared to analyst estimates of $252.68 million. During the same period in the prior year, the firm posted ($0.27) EPS. Zeta Global’s revenue for the quarter was up 42.0% compared to the same quarter last year. As a group, equities analysts forecast that Zeta Global will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ZETA. D. E. Shaw & Co. Inc. grew its position in Zeta Global by 1,444.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,847,610 shares of the company’s stock worth $32,610,000 after acquiring an additional 1,728,005 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Zeta Global during the 2nd quarter valued at about $28,698,000. Renaissance Technologies LLC lifted its position in Zeta Global by 85.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,019,000 shares of the company’s stock worth $35,635,000 after buying an additional 929,800 shares during the last quarter. Millennium Management LLC raised its stake in shares of Zeta Global by 358.3% during the second quarter. Millennium Management LLC now owns 1,189,295 shares of the company’s stock worth $20,991,000 after acquiring an additional 929,792 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Zeta Global during the 2nd quarter valued at $9,783,000. Hedge funds and other institutional investors own 75.82% of the company’s stock.

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.