Zeta Global (NYSE:ZETA) Trading 4.5% Higher – Here’s Why

Zeta Global Holdings Corp. (NYSE:ZETA)’s stock price traded up 4.5% during mid-day trading on Friday . The stock traded as high as $14.56 and last traded at $14.32. 1,725,709 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 6,272,150 shares. The stock had previously closed at $13.70.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays lowered their price objective on shares of Zeta Global from $32.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group lowered their price objective on shares of Zeta Global from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. B. Riley reiterated a “buy” rating and set a $44.00 target price on shares of Zeta Global in a research note on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of Zeta Global in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $28.00 target price on shares of Zeta Global in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Zeta Global presently has an average rating of “Moderate Buy” and a consensus price target of $36.86.

Zeta Global Price Performance

The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.31 billion, a P/E ratio of -19.87, a PEG ratio of 1.65 and a beta of 1.18. The business has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $23.09.

Institutional Investors Weigh In On Zeta Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Zeta Global by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 22,177,591 shares of the company’s stock valued at $398,975,000 after buying an additional 489,499 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Zeta Global by 85.0% during the third quarter. Lord Abbett & CO. LLC now owns 5,710,081 shares of the company’s stock valued at $170,332,000 after purchasing an additional 2,623,980 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Zeta Global by 98.8% during the fourth quarter. Renaissance Technologies LLC now owns 4,719,762 shares of the company’s stock valued at $84,909,000 after purchasing an additional 2,345,562 shares during the period. Geode Capital Management LLC increased its holdings in shares of Zeta Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,573,271 shares of the company’s stock valued at $82,470,000 after purchasing an additional 306,592 shares during the period. Finally, State Street Corp increased its holdings in shares of Zeta Global by 12.2% during the third quarter. State Street Corp now owns 4,187,052 shares of the company’s stock valued at $124,900,000 after purchasing an additional 455,944 shares during the period. 87.75% of the stock is currently owned by institutional investors.

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.