Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report)'s stock price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement.
Zeta Global's (NYSE:ZETA) stock price dropped sharply on Tuesday morning after the company announced weaker-than-expected earnings for the third quarter. The stock had closed at $36.74 on Monday, but opened at $33.30 on Tuesday morning. It last traded at $32.12, with a volume of 2,552,031 shares.
The company reported a loss of ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.26). Zeta Global had a negative return on equity of 79.03% and a negative net margin of 17.76%. 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 previous year, the company posted earnings per share of ($0.27). Zeta Global's revenue for the quarter was up 42.0% compared to the same quarter last year.
Several equities analysts have issued reports on the company. Barclays lowered Zeta Global from an "overweight" rating to an "equal weight" rating and set a $28.00 price target on the stock in a research note on Friday, October 18th. Oppenheimer increased their price objective on Zeta Global from $33.00 to $42.00 and gave the company an "outperform" rating in a research report on Tuesday. Needham & Company LLC raised their price target on Zeta Global from $36.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday. Roth Mkm lifted their price objective on Zeta Global from $33.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley lowered Zeta Global from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $18.00 to $30.00 in a report on Thursday, August 1st.
Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $37.15.
Several large investors have recently added to or reduced their stakes in ZETA. Wolff Wiese Magana LLC purchased a new stake in Zeta Global in the 3rd quarter that was valued at about $26,000. Quest Partners LLC increased its stake in shares of Zeta Global by 1,718.9% during the 2nd quarter. Quest Partners LLC now owns 2,310 shares of the company's stock, which are valued at $41,000, after purchasing an additional 2,183 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Zeta Global by 3,885.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,395 shares of the company's stock, which are valued at $42,000, after purchasing an additional 1,360 shares in the last quarter. Covestor Ltd increased its stake in shares of Zeta Global by 2,902.0% during the 3rd quarter. Covestor Ltd now owns 1,501 shares of the company's stock, which are valued at $45,000, after purchasing an additional 1,451 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Zeta Global by 104.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,227 shares of the company's stock, which are valued at $66,000, after purchasing an additional 1,136 shares in the last quarter. 75.82% of the stock is owned by institutional investors and hedge funds.
The stock has a 50 day moving average price of $28.99 and a two-hundred day moving average price of $22.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market capitalization of $7.09 billion, a PE ratio of -36.49 and a beta of 1.29.
