Zeta Global (NYSE:ZETA) Stock Price Down 3.9% – Here’s What Happened

Zeta Global Holdings Corp. (NYSE:ZETA)’s share price fell 3.9% during trading on Wednesday . The company traded as low as $14.93 and last traded at $15.12. 1,234,473 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,887,352 shares. The stock had previously closed at $15.73.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ZETA shares. Royal Bank of Canada dropped their price target on Zeta Global from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group cut their price objective on Zeta Global from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Zeta Global in a report on Wednesday, February 26th. Barclays dropped their target price on Zeta Global from $32.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of Zeta Global in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.86.

Zeta Global Price Performance

The company has a market cap of $3.60 billion, a PE ratio of -21.69, a PEG ratio of 1.65 and a beta of 1.18. 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’s 50-day simple moving average is $18.25 and its 200 day simple moving average is $22.52.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Zeta Global in the 4th quarter valued at approximately $6,614,000. California State Teachers Retirement System increased its stake in Zeta Global by 16.6% in the fourth quarter. California State Teachers Retirement System now owns 179,383 shares of the company’s stock valued at $3,227,000 after purchasing an additional 25,556 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Zeta Global in the fourth quarter valued at approximately $212,000. Heck Capital Advisors LLC acquired a new stake in shares of Zeta Global in the 4th quarter valued at about $66,000. Finally, Mackenzie Financial Corp increased its position in Zeta Global by 294.3% during the fourth quarter. Mackenzie Financial Corp now owns 170,552 shares of the company’s stock worth $3,068,000 after buying an additional 127,301 shares during the period. 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.