Zeta Global (NYSE:ZETA) Shares Up 4.3% – Here’s What Happened

Zeta Global Holdings Corp. (NYSE:ZETA)’s share price was up 4.3% during mid-day trading on Friday . The stock traded as high as $22.86 and last traded at $22.67. Approximately 3,329,290 shares were traded during trading, a decline of 11% from the average daily volume of 3,746,013 shares. The stock had previously closed at $21.73.

Analyst Ratings Changes

ZETA has been the subject of a number of research reports. Roth Mkm upped their target price on shares of Zeta Global from $33.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Barclays upped their price objective on Zeta Global from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Bank of America lifted their target price on Zeta Global from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Oppenheimer upped their price target on Zeta Global from $33.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of Zeta Global in a research report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zeta Global currently has an average rating of “Moderate Buy” and an average target price of $37.86.

Zeta Global Stock Performance

The stock’s 50 day moving average price is $26.13 and its two-hundred day moving average price is $23.45. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of -31.89 and a beta of 1.12.

Zeta Global (NYSE:ZETA) last released 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 45.22% and a negative net margin of 13.35%. The company had revenue of $268.30 million for the quarter, compared to analysts’ expectations of $252.68 million. During the same period in the prior year, the firm posted ($0.27) EPS. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. On average, analysts forecast that Zeta Global Holdings Corp. will post -0.16 EPS for the current year.

Insider Activity at Zeta Global

In related news, CEO David Steinberg bought 53,676 shares of Zeta Global stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $19.24 per share, with a total value of $1,032,726.24. Following the purchase, the chief executive officer now owns 65,310 shares in the company, valued at $1,256,564.40. This represents a 461.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Imran Khan purchased 55,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $18.96 per share, with a total value of $1,042,800.00. Following the transaction, the director now directly owns 55,000 shares of the company’s stock, valued at $1,042,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 129,901 shares of company stock valued at $2,471,244 in the last ninety days. Corporate insiders own 25.54% of the company’s stock.

Institutional Trading of Zeta Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in Zeta Global by 31.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,742,555 shares of the company’s stock worth $51,980,000 after acquiring an additional 413,577 shares during the period. Empowered Funds LLC acquired a new stake in shares of Zeta Global during the third quarter worth $5,644,000. Qsemble Capital Management LP acquired a new stake in shares of Zeta Global during the third quarter worth $1,752,000. Victory Capital Management Inc. grew its position in shares of Zeta Global by 229.9% in the third quarter. Victory Capital Management Inc. now owns 68,660 shares of the company’s stock valued at $2,048,000 after purchasing an additional 47,849 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Zeta Global by 512.3% in the third quarter. Principal Financial Group Inc. now owns 136,058 shares of the company’s stock valued at $4,059,000 after purchasing an additional 113,838 shares during the last quarter. 87.75% of the stock is currently owned by hedge funds and other 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.