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

Zeta Global (NYSE:ZETA) had its target price decreased by Morgan Stanley from $26.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 35.93% from the stock’s current price.

ZETA has been the topic of several other research reports. Craig Hallum raised their target price on shares of Zeta Global from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of Zeta Global in a research report on Tuesday, December 10th. The Goldman Sachs Group assumed coverage on shares of Zeta Global in a research report on Wednesday, December 11th. They set a “neutral” rating and a $30.00 price objective on the stock. Bank of America raised their price objective on shares of Zeta Global from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, William Blair reiterated an “outperform” rating on shares of Zeta Global in a research note on Thursday, December 19th. Four equities 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 MarketBeat.com, Zeta Global currently has an average rating of “Moderate Buy” and a consensus price target of $37.43.

Zeta Global Trading Down 2.4 %

Shares of NYSE:ZETA 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. Zeta Global has a one year low of $8.76 and a one year high of $38.20. The stock has a market capitalization of $4.02 billion, a PE ratio of -24.17 and a beta of 1.17. The business’s 50 day moving average is $21.99 and its two-hundred day moving average is $23.85. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.41.

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

Insiders Place Their Bets

In related news, CEO David Steinberg purchased 53,676 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $19.24 per share, with a total value of $1,032,726.24. Following the completion of the acquisition, the chief executive officer now owns 65,310 shares in the company, valued at approximately $1,256,564.40. This represents a 461.37 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Steven H. Gerber purchased 13,250 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $18.55 per share, with a total value of $245,787.50. Following the acquisition, the chief operating officer now owns 2,940,811 shares of the company’s stock, valued at approximately $54,552,044.05. The trade was a 0.45 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 129,901 shares of company stock worth $2,471,244 in the last three months. Corporate insiders own 25.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Zeta Global by 110.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 52,518 shares of the company’s stock worth $945,000 after buying an additional 27,572 shares during the last quarter. Diversified Trust Co increased its stake in shares of Zeta Global by 228.8% in the fourth quarter. Diversified Trust Co now owns 51,003 shares of the company’s stock worth $918,000 after acquiring an additional 35,490 shares during the period. Nordea Investment Management AB acquired a new stake in shares of Zeta Global in the fourth quarter worth $2,444,000. JPMorgan Chase & Co. increased its stake 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 worth $37,015,000 after acquiring an additional 293,583 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Zeta Global by 512.3% in the third quarter. Principal Financial Group Inc. now owns 136,058 shares of the company’s stock worth $4,059,000 after acquiring an additional 113,838 shares during the period. Hedge funds and other institutional investors own 87.75% of the company’s stock.

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.