Zeta Global (NYSE:ZETA) Shares Down 7.6% – Here’s What Happened

Zeta Global Holdings Corp. (NYSE:ZETA)’s stock price dropped 7.6% on Wednesday . The stock traded as low as $23.15 and last traded at $23.32. Approximately 2,194,539 shares traded hands during trading, a decline of 75% from the average daily volume of 8,803,843 shares. The stock had previously closed at $25.25.

Analyst Upgrades and Downgrades

ZETA has been the subject of a number of research reports. Royal Bank Of Canada raised their price objective on Zeta Global from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. KeyCorp raised shares of Zeta Global from a “sector weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Tuesday, April 28th. DA Davidson raised their price target on shares of Zeta Global from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. B. Riley Financial reaffirmed a “buy” rating on shares of Zeta Global in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zeta Global in a research note on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.83.

Zeta Global Price Performance

The company’s 50-day simple moving average is $17.39 and its 200 day simple moving average is $18.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of -208.36, a P/E/G ratio of 3.93 and a beta of 1.34.

Institutional Investors Weigh In On Zeta Global

A number of large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its stake in shares of Zeta Global by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 4,579 shares of the company’s stock worth $62,000 after buying an additional 1,168 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Zeta Global by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 106,371 shares of the company’s stock worth $1,442,000 after acquiring an additional 4,631 shares during the last quarter. Caxton Associates LLP bought a new stake in Zeta Global during the first quarter valued at about $205,000. Woodline Partners LP acquired a new stake in shares of Zeta Global in the first quarter valued at about $222,000. Finally, Strs Ohio bought a new position in shares of Zeta Global in the first quarter worth about $117,000. Institutional investors own 87.75% of the company’s stock.

Zeta Global Company Profile

Zeta Global, founded in 2007 and headquartered in New York City, is a leading data-driven marketing technology company. The firm’s mission centers on helping brands acquire, grow and retain customers through a unified customer lifecycle management platform. Over the years, Zeta Global has built a reputation for leveraging big data and predictive analytics to power digital marketing programs across multiple channels.

At the core of Zeta’s offering is the Zeta Marketing Platform, which combines identity resolution, audience insights and real-time engagement capabilities.