Zeta Global (NYSE:ZETA) Shares Gap Down on Disappointing Earnings

Zeta Global Holdings Corp. (NYSE:ZETA)’s stock price gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $36.74, but opened at $33.30. Zeta Global shares last traded at $32.12, with a volume of 2,552,031 shares.

The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.26). Zeta Global had a negative return on equity of 79.03% and a negative net margin of 17.76%. The firm had revenue of $268.30 million during the quarter, compared to the consensus estimate of $252.68 million. During the same period in the previous year, the company posted ($0.27) EPS. The firm’s revenue for the quarter was up 42.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. DA Davidson increased their price target on Zeta Global from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday. B. Riley upped their price target on shares of Zeta Global from $30.00 to $37.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays downgraded Zeta Global from an “overweight” rating to an “equal weight” rating and set a $28.00 price target for the company. in a research report on Friday, October 18th. Bank of America raised their price objective on Zeta Global from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Craig Hallum boosted their target price on shares of Zeta Global from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $39.08.

Institutional Trading of Zeta Global

Several large investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC acquired a new position in Zeta Global during the 3rd quarter worth approximately $26,000. Quest Partners LLC increased its position in shares of Zeta Global by 1,718.9% during the second quarter. Quest Partners LLC now owns 2,310 shares of the company’s stock worth $41,000 after buying an additional 2,183 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Zeta Global by 3,885.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,395 shares of the company’s stock valued at $42,000 after purchasing an additional 1,360 shares during the period. Covestor Ltd boosted its holdings in shares of Zeta Global by 2,902.0% during the 3rd quarter. Covestor Ltd now owns 1,501 shares of the company’s stock worth $45,000 after buying an additional 1,451 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Zeta Global by 104.1% in the third quarter. Advisors Asset Management Inc. now owns 2,227 shares of the company’s stock worth $66,000 after purchasing an additional 1,136 shares during the period. 75.82% of the stock is owned by institutional investors and hedge funds.

Zeta Global Price Performance

The business has a 50-day moving average of $28.99 and a 200 day moving average of $22.40. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $6.21 billion, a P/E ratio of -32.97 and a beta of 1.29.

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.