Christopher E. Greiner, the Chief Financial Officer of Zeta Global Holdings Corp. (NYSE:ZETA), has acquired 7,975 shares of the company's Class A common stock. The shares were purchased on November 18 at a weighted average price of $18.7975, resulting in a total transaction value of approximately $149,910. Following this acquisition, Greiner now holds 2,330,010 shares directly. The purchase was executed in multiple transactions, with prices ranging from $18.79 to $18.80 per share.
In other recent news, Zeta Global has reported promising financial results, with a 42% year-over-year increase in Q3 2024 revenue to $268 million and a 59% rise in adjusted EBITDA to $54 million. This led to an upward revision of the company's full-year 2024 revenue outlook to $986 million. Amid these developments, Zeta Global's leadership, including Co-Founder, Chairman, and CEO David A. Steinberg, plans to purchase approximately $3 million of the company's Class A common stock, demonstrating their confidence in the company's future.
However, Zeta Global faced a downgrade from KeyBanc Capital Markets from Overweight to Sector Weight. Other analysts have provided mixed feedback: B.Riley and DA Davidson reaffirmed their Buy ratings, while Canaccord Genuity adjusted its price target for Zeta, reducing it to $24 from the previous $42, but maintained a Buy rating. Needham also reiterated its Buy rating and a $43.00 price target.
In response to a short-seller report, Zeta Global emphasized the reliability of its financial practices and initiated a new $100 million share repurchase program. Furthermore, Craig-Hallum increased its price target for Zeta Global, highlighting the company's AI and sales force expansion. Truist Securities also raised its price target following strong Q3 results, while Oppenheimer maintained an Outperform rating, projecting steady 20% organic growth. These are some of the recent developments for Zeta Global.
InvestingPro Insights
The recent insider purchase by CFO Christopher E. Greiner aligns with several positive indicators for Zeta Global Holdings Corp. (NYSE:ZETA). According to InvestingPro data, Zeta has demonstrated strong revenue growth, with a 41.97% increase in quarterly revenue as of Q3 2024. This robust growth trajectory is further supported by an InvestingPro Tip indicating that analysts anticipate continued sales growth in the current year.
Despite the company's recent stock price volatility, with a significant 52.15% drop in the past week, Zeta's financial position appears solid. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, suggesting financial stability. Additionally, Zeta's liquid assets exceed short-term obligations, providing a cushion for operational needs and potential growth initiatives.
While Zeta is not currently profitable, with an adjusted operating income of -$102.11 million over the last twelve months, analysts are optimistic about its future. An InvestingPro Tip reveals that 11 analysts have revised their earnings upwards for the upcoming period, and there's a prediction that the company will turn profitable this year.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for Zeta Global Holdings Corp., providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.