Zeta Global Holdings Corp. (NYSE:ZETA) Sees Large Growth in Short Interest

Zeta Global Holdings Corp. (NYSE:ZETA) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 13,420,000 shares, a growth of 54.3% from the October 15th total of 8,700,000 shares. Approximately 7.2% of the company’s shares are sold short. Based on an average daily volume of 3,500,000 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Investors Weigh In On Zeta Global

Institutional investors have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC purchased a new stake in Zeta Global in the third quarter valued at $769,000. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Zeta Global by 142.0% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 75,999 shares of the company’s stock valued at $2,267,000 after purchasing an additional 44,596 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of Zeta Global in the 3rd quarter valued at about $1,634,000. Stephens Investment Management Group LLC acquired a new stake in shares of Zeta Global in the 3rd quarter valued at about $7,676,000. Finally, Russell Investments Group Ltd. grew its stake in Zeta Global by 99.3% during the 1st quarter. Russell Investments Group Ltd. now owns 554,597 shares of the company’s stock worth $6,062,000 after buying an additional 276,294 shares during the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ZETA. Oppenheimer boosted their price target on shares of Zeta Global from $33.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada upped their price target on Zeta Global from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Truist Financial reaffirmed a “buy” rating and issued a $42.00 price objective (up from $35.00) on shares of Zeta Global in a research note on Tuesday. Morgan Stanley decreased their target price on Zeta Global from $41.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, B. Riley lifted their target price on Zeta Global from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.08.

Zeta Global Trading Up 1.2 %

Shares of NYSE:ZETA traded up $0.21 during trading hours on Friday, reaching $17.58. The stock had a trading volume of 25,433,628 shares, compared to its average volume of 8,545,498. The firm’s 50 day moving average is $28.57 and its 200-day moving average is $22.48. Zeta Global has a 1 year low of $7.65 and a 1 year high of $38.20. The company has a current ratio of 3.32, a quick ratio of 1.98 and a debt-to-equity ratio of 0.41.

Zeta Global (NYSE:ZETA) last posted its earnings results on Monday, November 11th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.26). The business had revenue of $268.30 million during the quarter, compared to analysts’ expectations of $252.68 million. Zeta Global had a negative net margin of 13.35% and a negative return on equity of 45.22%. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same period last year, the company earned ($0.27) EPS. On average, analysts forecast that Zeta Global will post -0.45 EPS for the current fiscal year.

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.