Zeta Global (NASDAQ:ZETA) Shares Gap Up After Strong Earnings

Zeta Global Holdings Corp. (NASDAQ:ZETA) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $13.00, but opened at $15.55. Zeta Global shares last traded at $15.34, with a volume of 1,532,393 shares changing hands.

The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $187.16 million. Zeta Global had a negative net margin of 22.20% and a negative return on equity of 107.29%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.38) EPS.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZETA. B. Riley boosted their price target on Zeta Global from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson increased their target price on shares of Zeta Global from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America lifted their price target on shares of Zeta Global from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday. TheStreet upgraded Zeta Global from a “d+” rating to a “c-” rating in a report on Tuesday, January 30th. Finally, Craig Hallum lifted their target price on shares of Zeta Global from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $18.75.

Institutional Trading of Zeta Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Entropy Technologies LP purchased a new stake in Zeta Global in the 1st quarter worth approximately $153,000. ProShare Advisors LLC boosted its holdings in Zeta Global by 9.7% during the first quarter. ProShare Advisors LLC now owns 25,249 shares of the company’s stock worth $276,000 after buying an additional 2,236 shares in the last quarter. Russell Investments Group Ltd. grew its position in Zeta Global by 99.3% during the first quarter. Russell Investments Group Ltd. now owns 554,597 shares of the company’s stock valued at $6,062,000 after buying an additional 276,294 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Zeta Global in the first quarter valued at $955,000. Finally, Swiss National Bank raised its position in shares of Zeta Global by 1.3% in the first quarter. Swiss National Bank now owns 309,600 shares of the company’s stock worth $3,384,000 after acquiring an additional 4,000 shares during the period. 75.82% of the stock is owned by institutional investors and hedge funds.

Zeta Global Price Performance

The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -14.50 and a beta of 1.12. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average price of $11.42 and a 200 day moving average price of $9.82.

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.