Zeta Global (NYSE:ZETA) Trading Down 4.7% Following Analyst Downgrade

Zeta Global Holdings Corp. (NYSE:ZETA)’s stock price dropped 4.7% during mid-day trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $30.00 to $27.00. The Goldman Sachs Group currently has a neutral rating on the stock. Zeta Global traded as low as $15.68 and last traded at $15.79. Approximately 2,850,923 shares changed hands during trading, a decline of 53% from the average daily volume of 6,107,915 shares. The stock had previously closed at $16.57.

A number of other equities analysts also recently issued reports on the company. DA Davidson upped their price target on Zeta Global from $39.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of Zeta Global in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of Zeta Global from $32.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Morgan Stanley raised their price objective on Zeta Global from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of Zeta Global in a report on Wednesday, February 26th. Four 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 company. Based on data from MarketBeat, Zeta Global presently has an average rating of “Moderate Buy” and an average target price of $36.86.

Institutional Trading of Zeta Global

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Zeta Global by 84,132.4% in the third quarter. FMR LLC now owns 3,561,347 shares of the company’s stock valued at $106,235,000 after purchasing an additional 3,557,119 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Zeta Global in the 4th quarter worth about $51,042,000. Lord Abbett & CO. LLC grew its stake in Zeta Global by 85.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 5,710,081 shares of the company’s stock valued at $170,332,000 after acquiring an additional 2,623,980 shares during the last quarter. Norges Bank purchased a new position in Zeta Global during the 4th quarter valued at about $43,236,000. Finally, Renaissance Technologies LLC raised its position in Zeta Global by 98.8% during the fourth quarter. Renaissance Technologies LLC now owns 4,719,762 shares of the company’s stock worth $84,909,000 after acquiring an additional 2,345,562 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Zeta Global Stock Up 1.7 %

The firm’s fifty day simple moving average is $19.25 and its 200-day simple moving average is $23.62. The company has a market cap of $4.00 billion, a PE ratio of -24.08, a P/E/G ratio of 1.65 and a beta of 1.17. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.41.

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.