Morgan Stanley Cuts Zeta Global (NYSE:ZETA) Price Target to $26.00

Zeta Global (NYSE:ZETA) had its price target trimmed by Morgan Stanley from $41.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also issued reports about the company. Oppenheimer boosted their target price on Zeta Global from $33.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Roth Mkm raised their target price on shares of Zeta Global from $33.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. DA Davidson boosted their target price on shares of Zeta Global from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bank of America lifted their price objective on Zeta Global from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Truist Financial restated a “buy” rating and set a $42.00 target price (up previously from $35.00) on shares of Zeta Global in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zeta Global has an average rating of “Moderate Buy” and an average target price of $39.08.

Zeta Global Stock Up 11.4 %

Zeta Global stock opened at $19.58 on Friday. The firm’s 50 day moving average price is $28.44 and its two-hundred day moving average price is $22.67. The firm has a market cap of $4.31 billion, a PE ratio of -27.97 and a beta of 1.29. Zeta Global has a twelve month low of $7.65 and a twelve month high of $38.20. 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 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). The firm had revenue of $268.30 million during the quarter, compared to analysts’ expectations of $252.68 million. Zeta Global had a negative net margin of 13.35% and a negative return on equity of 45.22%. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.27) EPS. On average, research analysts predict that Zeta Global will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Zeta Global

In other Zeta Global news, Director Imran Khan purchased 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $18.96 per share, with a total value of $1,042,800.00. Following the completion of the purchase, the director now directly owns 55,000 shares in the company, valued at approximately $1,042,800. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Steinberg bought 53,676 shares of the stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $19.24 per share, with a total value of $1,032,726.24. Following the acquisition, the chief executive officer now directly owns 65,310 shares in the company, valued at approximately $1,256,564.40. This trade represents a 461.37 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 129,901 shares of company stock worth $2,471,244. 25.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in Zeta Global in the 3rd quarter valued at $5,644,000. Harbour Capital Advisors LLC bought a new stake in Zeta Global in the 3rd quarter valued at approximately $769,000. Riggs Asset Managment Co. Inc. grew its stake in shares of Zeta Global by 142.0% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 75,999 shares of the company’s stock worth $2,267,000 after acquiring an additional 44,596 shares in the last quarter. Stephens Inc. AR bought a new stake in shares of Zeta Global in the third quarter worth $1,634,000. Finally, Stephens Investment Management Group LLC acquired a new position in Zeta Global during the third quarter worth $7,676,000. 75.82% of the stock is currently owned by institutional investors.

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.