Morgan Stanley Downgrades Zeta Global (NASDAQ:ZETA) to Equal Weight

Morgan Stanley downgraded shares of Zeta Global (NASDAQ:ZETA) from an overweight rating to an equal weight rating in a research report released on Thursday, MarketBeat.com reports. The firm currently has $30.00 target price on the stock, up from their prior target price of $18.00.

A number of other analysts have also recently weighed in on ZETA. Oppenheimer increased their price objective on shares of Zeta Global from $18.00 to $20.00 and gave the stock an outperform rating in a report on Tuesday, July 9th. B. Riley raised their target price on shares of Zeta Global from $18.50 to $24.00 and gave the company a buy rating in a research note on Friday, July 19th. Truist Financial started coverage on shares of Zeta Global in a research note on Monday, July 15th. They set a buy rating and a $23.00 target price on the stock. Canaccord Genuity Group raised their target price on shares of Zeta Global from $17.00 to $20.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Finally, DA Davidson lifted their price objective on shares of Zeta Global from $15.00 to $19.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $28.00.

Zeta Global Trading Down 4.1 %

Zeta Global stock opened at $23.01 on Thursday. The firm’s 50-day moving average is $17.96 and its 200-day moving average is $13.93. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.89 and a current ratio of 1.89. Zeta Global has a 1 year low of $7.24 and a 1 year high of $25.53. The company has a market cap of $5.03 billion, a P/E ratio of -21.71 and a beta of 1.23.

Zeta Global (NASDAQ:ZETA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.26). Zeta Global had a negative return on equity of 83.92% and a negative net margin of 17.76%. The business had revenue of $227.80 million during the quarter, compared to the consensus estimate of $212.44 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, equities analysts expect that Zeta Global will post -0.37 earnings per share for the current year.

Institutional Trading of Zeta Global

Several institutional investors have recently made changes to their positions in the stock. Halpern Financial Inc. boosted its holdings in shares of Zeta Global by 18.6% during the first quarter. Halpern Financial Inc. now owns 5,300 shares of the company’s stock worth $56,000 after purchasing an additional 830 shares during the period. Counterpoint Mutual Funds LLC raised its position in Zeta Global by 9.4% during the first quarter. Counterpoint Mutual Funds LLC now owns 12,404 shares of the company’s stock valued at $136,000 after acquiring an additional 1,065 shares in the last quarter. Essex Investment Management Co. LLC raised its position in Zeta Global by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 227,417 shares of the company’s stock valued at $2,486,000 after acquiring an additional 1,233 shares in the last quarter. Blue Trust Inc. raised its position in Zeta Global by 22.8% during the fourth quarter. Blue Trust Inc. now owns 10,960 shares of the company’s stock valued at $92,000 after acquiring an additional 2,037 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Zeta Global by 5.4% during the fourth quarter. Arizona State Retirement System now owns 43,351 shares of the company’s stock valued at $382,000 after acquiring an additional 2,215 shares in the last quarter. 75.82% of the stock is currently owned by institutional investors and hedge funds.

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.