These Analysts Increase Their Forecasts On Zeta Global Following Upbeat Earnings

Zeta Global Holdings Corp. ZETA reported better-than-expected first-quarter financial results and increased its second-quarter revenue guidance on Monday.

Zeta Global posted GAAP loss of 23 cents per share, compared to market expectations for a loss of 25 cents per share. The company’s quarterly sales came in at $194.947 million topping estimates of $187.112 million, according to data from Benzinga Pro.

“The actionable intelligence delivered by the Zeta Marketing Platform is fueling the acceleration in our business,” said David A. Steinberg, Co-Founder, Chairman, and CEO of Zeta. “Chief Marketing Officers are seeking modern marketing technology platforms, like the ZMP, that leverage Gen AI to drive top line growth and improve operational efficiency, while protecting their data. Our strong competitive position combined with structural demand drivers give us confidence to raise our outlook.”

Zeta Global shares gained 17.8% to trade at $15.31 on Tuesday.

These analysts made changes to their price targets on Zeta Global following earnings announcement.

• Needham raised the price target on Zeta Global from $13 to $18. Needham analyst Ryan MacDonald maintained a Buy rating.
• B of A Securities boosted the price target on Zeta Global from $15 to $18. B of A Securities analyst Koji Ikeda maintained a Buy rating.
• Oppenheimer raised the price target on Zeta Global from $14 to $18. Oppenheimer analyst Brian Schwartz maintained an Outperform rating.
• Canaccord Genuity raised the price target on Zeta Global from $13 to $17. Canaccord Genuity analyst David Hynes maintained a Buy rating.
• DA Davidson boosted the price target on Zeta Global from $15 to $19. DA Davidson analyst Clark Wright maintained a Buy rating.
• Barclays boosted the price target on Zeta Global from $15 to $18. Barclays analyst Ryan Macwilliams maintained an Overweight rating.

Read More: Bitcoin Falls Below $64,000; Starknet, Bittensor Among Top Losers