Zeta Global (NASDAQ:ZETA) Shares Gap Up Following Strong Earnings

Zeta Global Holdings Corp. (NASDAQ:ZETA) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $13.00, but opened at $15.55. Zeta Global shares last traded at $15.34, with a volume of 1,532,393 shares traded.

The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The company had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $187.16 million. Zeta Global had a negative return on equity of 107.29% and a negative net margin of 22.20%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.38) earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Craig Hallum lifted their price target on shares of Zeta Global from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer increased their price target on Zeta Global from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday. DA Davidson lifted their price objective on Zeta Global from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley increased their target price on Zeta Global from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, TheStreet upgraded Zeta Global from a “d+” rating to a “c-” rating in a report on Tuesday, January 30th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.75.

Institutional Trading of Zeta Global

A number of institutional investors have recently modified their holdings of ZETA. Insight Wealth Strategies LLC purchased a new stake in Zeta Global during the fourth quarter worth approximately $922,000. Legato Capital Management LLC acquired a new stake in Zeta Global in the 4th quarter valued at $929,000. Vanguard Group Inc. raised its position in Zeta Global by 6.6% in the third quarter. Vanguard Group Inc. now owns 15,915,616 shares of the company’s stock valued at $132,895,000 after purchasing an additional 991,678 shares during the period. Blue Trust Inc. lifted its stake in shares of Zeta Global by 22.8% during the fourth quarter. Blue Trust Inc. now owns 10,960 shares of the company’s stock worth $92,000 after purchasing an additional 2,037 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in shares of Zeta Global by 97.2% in the third quarter. First Eagle Investment Management LLC now owns 663,600 shares of the company’s stock worth $5,541,000 after buying an additional 327,100 shares during the period. Hedge funds and other institutional investors own 75.82% of the company’s stock.

Zeta Global Trading Up 1.2 %

The business has a 50 day moving average price of $11.42 and a 200-day moving average price of $9.82. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -14.50 and a beta of 1.12. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.02.

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.