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

Zeta Global Holdings Corp. (NYSE:ZETA) shares were down 6.1% during mid-day trading on Tuesday . The stock traded as low as $13.54 and last traded at $13.59. Approximately 1,517,153 shares were traded during mid-day 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 Analyst Weigh In

Several equities research analysts have recently commented on ZETA shares. Royal Bank of Canada decreased their price objective on Zeta Global from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group decreased their price objective on Zeta Global from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Canaccord Genuity Group restated a “buy” rating and set a $28.00 price objective on shares of Zeta Global in a report on Wednesday, February 26th. B. Riley reiterated a “buy” rating and set a $44.00 price target on shares of Zeta Global in a report on Wednesday, February 26th. Finally, Barclays decreased their price target on Zeta Global from $32.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zeta Global currently has an average rating of “Moderate Buy” and an average price target of $36.86.

Zeta Global Stock Performance

The company has a 50-day simple moving average of $18.45 and a two-hundred day simple moving average of $22.85. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.41. The firm has a market cap of $3.42 billion, a PE ratio of -20.56, a PEG ratio of 1.65 and a beta of 1.18.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZETA. FMR LLC lifted its position in shares of Zeta Global by 84,132.4% during the 3rd quarter. FMR LLC now owns 3,561,347 shares of the company’s stock valued at $106,235,000 after buying an additional 3,557,119 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Zeta Global during the 4th quarter valued at $51,042,000. Lord Abbett & CO. LLC lifted 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 buying an additional 2,623,980 shares during the last quarter. Norges Bank purchased a new position in shares of Zeta Global during the 4th quarter valued at $43,236,000. Finally, Renaissance Technologies LLC lifted its holdings in Zeta Global by 98.8% during the 4th quarter. Renaissance Technologies LLC now owns 4,719,762 shares of the company’s stock worth $84,909,000 after purchasing an additional 2,345,562 shares in the last quarter. Hedge funds and other 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.