Zeta Global (NYSE:ZETA) Trading Down 3.6% – Here’s What Happened

Zeta Global Holdings Corp. (NYSE:ZETA)’s stock price dropped 3.6% on Thursday . The stock traded as low as $16.25 and last traded at $16.53. Approximately 1,262,300 shares changed hands during trading, a decline of 79% from the average daily volume of 6,111,976 shares. The stock had previously closed at $17.14.

Analysts Set New Price Targets

ZETA has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on Zeta Global from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday. Royal Bank of Canada dropped their price target on shares of Zeta Global from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial reissued a “buy” rating and issued a $42.00 price objective (up from $35.00) on shares of Zeta Global in a research report on Tuesday, November 12th. Oppenheimer boosted their target price on Zeta Global from $33.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, DA Davidson upped their target price on Zeta Global from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.86.

Zeta Global Stock Down 7.5 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.32 and a current ratio of 3.32. The company has a fifty day simple moving average of $19.22 and a two-hundred day simple moving average of $23.58. The firm has a market capitalization of $3.77 billion, a PE ratio of -22.66, a PEG ratio of 1.65 and a beta of 1.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Zeta Global by 84,132.4% in the 3rd quarter. FMR LLC now owns 3,561,347 shares of the company’s stock worth $106,235,000 after purchasing an additional 3,557,119 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Zeta Global during the fourth quarter worth $51,042,000. Lord Abbett & CO. LLC boosted its position in Zeta Global by 85.0% during 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 in the last quarter. Norges Bank bought a new stake in Zeta Global during the 4th quarter valued at $43,236,000. Finally, Renaissance Technologies LLC increased its holdings 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 acquiring an additional 2,345,562 shares during the period. 87.75% of the stock is currently owned by institutional investors.

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.