KeyCorp Downgrades Zeta Global (NYSE:ZETA) to Sector Weight

Zeta Global (NYSE:ZETA) was downgraded by research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Thursday, MarketBeat.com reports.

Several other research analysts have also commented on the company. Morgan Stanley lifted their target price on Zeta Global from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Bank of America boosted their price objective on Zeta Global from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on Zeta Global from $33.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Craig Hallum boosted their price objective on Zeta Global from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, DA Davidson boosted their price objective on Zeta Global from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. Three 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.08.

Zeta Global Stock Performance

Shares of NYSE:ZETA opened at $17.59 on Thursday. The company has a market cap of $3.87 billion, a P/E ratio of -25.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.98 and a current ratio of 3.32. Zeta Global has a one year low of $7.65 and a one year high of $38.20. The business’s 50-day simple moving average is $28.57 and its 200 day simple moving average is $22.48.

Zeta Global (NYSE:ZETA) last posted its quarterly earnings data on Monday, November 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $268.30 million for the quarter, compared to analysts’ expectations of $252.68 million. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Zeta Global’s revenue for the quarter was up 42.0% compared to the same quarter last year. On average, sell-side analysts forecast that Zeta Global will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Harbour Capital Advisors LLC purchased a new position in Zeta Global in the third quarter valued at about $769,000. Riggs Asset Managment Co. Inc. grew its stake in Zeta Global by 142.0% in the third quarter. Riggs Asset Managment Co. Inc. now owns 75,999 shares of the company’s stock valued at $2,267,000 after purchasing an additional 44,596 shares in the last quarter. Stephens Inc. AR purchased a new position in Zeta Global in the third quarter valued at about $1,634,000. Stephens Investment Management Group LLC purchased a new position in Zeta Global in the third quarter valued at about $7,676,000. Finally, Russell Investments Group Ltd. grew its stake in Zeta Global by 99.3% in the first quarter. Russell Investments Group Ltd. now owns 554,597 shares of the company’s stock valued at $6,062,000 after purchasing an additional 276,294 shares in the last quarter. Hedge funds and other institutional investors own 75.82% 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.