Zeta Global (NYSE:ZETA) Stock Price Down 1% – Here’s Why

Zeta Global Holdings Corp. (NYSE:ZETA) shares dropped 1% during mid-day trading on Wednesday . The stock traded as low as $13.91 and last traded at $14.15. Approximately 2,301,656 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 6,264,546 shares. The stock had previously closed at $14.29.

Wall Street Analysts Forecast Growth

ZETA has been the topic of several recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $28.00 price target on shares of Zeta Global in a research note on Wednesday, February 26th. William Blair reissued an “outperform” rating on shares of Zeta Global in a research note on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on Zeta Global from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley boosted their price target on Zeta Global from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, B. Riley reissued a “buy” rating and issued a $44.00 price target on shares of Zeta Global in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zeta Global has an average rating of “Moderate Buy” and an average target price of $36.86.

Zeta Global Price Performance

The company has a fifty day moving average of $18.80 and a 200-day moving average of $23.18. The firm has a market cap of $3.39 billion, a P/E ratio of -20.15, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.32 and a quick ratio of 3.32.

Institutional Investors Weigh In On Zeta Global

Several institutional investors have recently bought and sold shares of ZETA. FMR LLC grew its holdings in Zeta Global by 84,132.4% during the third quarter. FMR LLC now owns 3,561,347 shares of the company’s stock worth $106,235,000 after buying an additional 3,557,119 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Zeta Global during the fourth quarter worth $51,042,000. Lord Abbett & CO. LLC grew its stake in Zeta Global by 85.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 5,710,081 shares of the company’s stock valued at $170,332,000 after purchasing an additional 2,623,980 shares during the period. Norges Bank bought a new position in Zeta Global in the 4th quarter valued at $43,236,000. Finally, Renaissance Technologies LLC grew its stake in 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 purchasing an additional 2,345,562 shares during the period. Institutional investors 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.