Zeta Global (NYSE:ZETA) Shares Gap Down – Here’s Why

Zeta Global Holdings Corp. (NYSE:ZETA) gapped down before the market opened on Monday . The stock had previously closed at $22.32, but opened at $21.82. Zeta Global shares last traded at $21.23, with a volume of 1,838,610 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZETA. Roth Mkm increased their price objective on shares of Zeta Global from $33.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Bank of America boosted their price target on shares of Zeta Global from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group initiated coverage on shares of Zeta Global in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $30.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and issued a $42.00 price target (up previously from $35.00) on shares of Zeta Global in a report on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 target price on shares of Zeta Global in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.86.

Zeta Global Stock Performance

The firm has a fifty day moving average price of $26.13 and a 200 day moving average price of $23.49. The stock has a market cap of $5.10 billion, a PE ratio of -31.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.32 and a current ratio of 3.32.

Zeta Global (NYSE:ZETA) last issued its quarterly earnings results 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 firm had revenue of $268.30 million for the quarter, compared to analyst estimates of $252.68 million. During the same period in the prior year, the firm posted ($0.27) EPS. The business’s revenue was up 42.0% compared to the same quarter last year. Research analysts forecast that Zeta Global Holdings Corp. will post -0.16 earnings per share for the current fiscal year.

Insider Activity at Zeta Global

In other Zeta Global news, CEO David Steinberg bought 53,676 shares of Zeta Global stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $19.24 per share, with a total value of $1,032,726.24. Following the purchase, the chief executive officer now directly owns 65,310 shares in the company, valued at $1,256,564.40. This represents a 461.37 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher E. Greiner purchased 7,975 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $18.80 per share, with a total value of $149,930.00. Following the acquisition, the chief financial officer now owns 2,330,010 shares in the company, valued at $43,804,188. This represents a 0.34 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 129,901 shares of company stock worth $2,471,244 over the last three months. Company insiders own 25.54% of the company’s stock.

Hedge Funds Weigh In On Zeta Global

Institutional investors have recently added to or reduced their stakes in the stock. Juncture Wealth Strategies LLC raised its position in Zeta Global by 3.1% in the third quarter. Juncture Wealth Strategies LLC now owns 21,226 shares of the company’s stock valued at $633,000 after purchasing an additional 634 shares during the period. Essex Investment Management Co. LLC raised its holdings in shares of Zeta Global by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 306,305 shares of the company’s stock valued at $9,137,000 after buying an additional 856 shares during the period. Wolff Wiese Magana LLC acquired a new position in Zeta Global in the 3rd quarter valued at about $26,000. HighTower Advisors LLC grew its stake in shares of Zeta Global by 4.2% in the third quarter. HighTower Advisors LLC now owns 22,383 shares of the company’s stock worth $668,000 after acquiring an additional 892 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Zeta Global by 20.0% during the 2nd quarter. Amalgamated Bank now owns 5,691 shares of the company’s stock worth $100,000 after purchasing an additional 948 shares in the last quarter. Hedge funds and other institutional investors own 87.75% 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.