Zeta Global (NASDAQ:ZETA) Downgraded by Zacks Investment Research to Sell

Zeta Global (NASDAQ:ZETA – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Zeta Global Holdings Corp. is a data-driven, cloud-based marketing technology company which empowers enterprises to acquire, grow and retain customers. The Company’s Zeta Marketing Platform is an omnichannel marketing platform with identity data at its core. Zeta Global Holdings Corp. is based in NEW YORK. “

Several other analysts have also commented on ZETA. Oppenheimer raised shares of Zeta Global from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Thursday, April 7th. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Zeta Global in a report on Thursday, February 24th. Finally, Craig Hallum initiated coverage on shares of Zeta Global in a report on Monday, February 7th. They set a “buy” rating and a $14.00 price objective on the stock. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $12.70.

NASDAQ:ZETA traded down $0.29 during mid-day trading on Friday, reaching $10.54. The company’s stock had a trading volume of 12,148 shares, compared to its average volume of 860,323. Zeta Global has a 1 year low of $5.27 and a 1 year high of $13.46. The stock has a fifty day moving average of $11.56 and a 200-day moving average of $9.64. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 2.03.

Zeta Global (NASDAQ:ZETA – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.10). The company had revenue of $134.85 million for the quarter, compared to the consensus estimate of $122.78 million. As a group, research analysts anticipate that Zeta Global will post -1.37 EPS for the current fiscal year.

In related news, major shareholder Gpi Capital Gemini Holdco Lp sold 4,000,000 shares of the stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $11.40, for a total value of $45,600,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

A number of institutional investors have recently added to or reduced their stakes in ZETA. Bank of America Corp DE purchased a new stake in Zeta Global in the 2nd quarter worth approximately $38,000. Morgan Stanley purchased a new position in shares of Zeta Global during the 2nd quarter valued at approximately $178,000. Victory Capital Management Inc. lifted its position in shares of Zeta Global by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 253,138 shares of the company’s stock valued at $1,483,000 after buying an additional 3,138 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Zeta Global by 4.8% during the 3rd quarter. New York State Common Retirement Fund now owns 137,680 shares of the company’s stock valued at $807,000 after buying an additional 6,300 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in shares of Zeta Global during the 3rd quarter valued at approximately $309,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

Zeta Global Company Profile (Get Rating)

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. Its 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.

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