Zeta Global (NYSE:ZETA) Shares Down 6.1% – Here’s Why

Zeta Global Holdings Corp. (NYSE:ZETA)’s stock price dropped 6.1% on Tuesday . The stock traded as low as $13.54 and last traded at $13.59. Approximately 1,517,153 shares traded hands during trading, a decline of 69% from the average daily volume of 4,837,251 shares. The stock had previously closed at $14.47.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ZETA shares. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Zeta Global in a research note on Wednesday, February 26th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Zeta Global in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price target on Zeta Global from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Morgan Stanley increased their price objective on Zeta Global from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Barclays decreased their target price on Zeta Global from $32.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.86.

Zeta Global Trading Down 5.5 %

The stock has a fifty day moving average of $18.61 and a 200 day moving average of $22.99. 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 market capitalization of $3.25 billion, a P/E ratio of -19.55, a PEG ratio of 1.65 and a beta of 1.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in Zeta Global by 84,132.4% during the 3rd quarter. FMR LLC now owns 3,561,347 shares of the company’s stock worth $106,235,000 after acquiring an additional 3,557,119 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Zeta Global in the fourth quarter worth $51,042,000. Lord Abbett & CO. LLC raised its position in shares of 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 purchasing an additional 2,623,980 shares during the period. Norges Bank purchased a new position in shares of Zeta Global during the 4th quarter valued at $43,236,000. Finally, Renaissance Technologies LLC increased 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 worth $84,909,000 after buying an additional 2,345,562 shares in the last quarter. 87.75% of the stock is owned by hedge funds and other 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.