Zeta Global (NYSE:ZETA) Sees Strong Trading Volume After Analyst Upgrade

Shares of Zeta Global Holdings Corp. (NYSE:ZETA) saw an uptick in trading volume on Wednesday after Morgan Stanley raised their price target on the stock from $23.00 to $25.00. Morgan Stanley currently has an equal weight rating on the stock. 6,926,280 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 5,408,734 shares.The stock last traded at $18.08 and had previously closed at $20.60.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada lowered their price objective on shares of Zeta Global from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. William Blair reaffirmed an “outperform” rating on shares of Zeta Global in a research report on Thursday, December 19th. Canaccord Genuity Group lifted their price objective on Zeta Global from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. The Goldman Sachs Group assumed coverage on Zeta Global in a report on Wednesday, December 11th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Oppenheimer lifted their target price on Zeta Global from $33.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zeta Global has a consensus rating of “Moderate Buy” and a consensus price target of $37.07.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in Zeta Global by 84,132.4% in the 3rd quarter. FMR LLC now owns 3,561,347 shares of the company’s stock valued at $106,235,000 after acquiring an additional 3,557,119 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Zeta Global in the 4th quarter valued at about $51,042,000. Lord Abbett & CO. LLC increased its stake 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 worth $170,332,000 after buying an additional 2,623,980 shares during the period. Norges Bank purchased a new position in Zeta Global in the fourth quarter worth approximately $43,236,000. Finally, Renaissance Technologies LLC increased its position in shares of Zeta Global by 98.8% in the 4th 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 last quarter. 87.75% of the stock is owned by hedge funds and other institutional investors.

Zeta Global Price Performance

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 stock’s fifty day moving average price is $19.38 and its two-hundred day moving average price is $23.77. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -23.78, a price-to-earnings-growth ratio of 1.65 and a beta of 1.17.

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.