Zeta Global (NYSE:ZETA) Price Target Cut to $23.00 by Analysts at Morgan Stanley

Zeta Global (NYSE:ZETA) had its price target dropped by Morgan Stanley from $26.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 35.93% from the stock’s previous close.

Several other analysts have also issued reports on ZETA. Roth Mkm lifted their target price on shares of Zeta Global from $33.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 target price on shares of Zeta Global in a research report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on shares of Zeta Global from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Canaccord Genuity Group lifted their target price on shares of Zeta Global from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Barclays lifted their target price on shares of Zeta Global from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.43.

Zeta Global Stock Performance

ZETA stock traded down $0.41 during midday trading on Monday, hitting $16.92. 2,243,960 shares of the stock traded hands, compared to its average volume of 4,095,952. The firm has a market cap of $4.02 billion, a P/E ratio of -24.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.32 and a quick ratio of 3.32. The stock’s fifty day simple moving average is $21.99 and its 200-day simple moving average is $23.85. Zeta Global has a 1-year low of $8.76 and a 1-year high of $38.20.

Zeta Global (NYSE:ZETA) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.26). The firm had revenue of $268.30 million for the quarter, compared to analyst estimates of $252.68 million. Zeta Global had a negative net margin of 13.35% and a negative return on equity of 45.22%. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.27) EPS. On average, analysts expect that Zeta Global will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Zeta Global

In other Zeta Global news, CFO Christopher E. Greiner acquired 7,975 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $18.80 per share, for a total transaction of $149,930.00. Following the completion of the acquisition, the chief financial officer now owns 2,330,010 shares of the company’s stock, valued at approximately $43,804,188. This trade represents a 0.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Imran Khan acquired 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $18.96 per share, with a total value of $1,042,800.00. Following the acquisition, the director now directly owns 55,000 shares of the company’s stock, valued at approximately $1,042,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 129,901 shares of company stock worth $2,471,244 over the last three months. Insiders own 25.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of Zeta Global by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 1,240,872 shares of the company’s stock valued at $37,015,000 after purchasing an additional 293,583 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Zeta Global by 31.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,742,555 shares of the company’s stock valued at $51,980,000 after purchasing an additional 413,577 shares in the last quarter. Empowered Funds LLC acquired a new position in Zeta Global during the 3rd quarter worth approximately $5,644,000. Qsemble Capital Management LP acquired a new position in Zeta Global during the 3rd quarter worth approximately $1,752,000. Finally, Victory Capital Management Inc. grew its holdings in Zeta Global by 229.9% during the 3rd quarter. Victory Capital Management Inc. now owns 68,660 shares of the company’s stock worth $2,048,000 after acquiring an additional 47,849 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

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.