On Monday, Zeta Global Holdings Corp (NYSE: ZETA) saw its price target raised to $36.00 from $33.00 by a Needham analyst, while maintaining a Buy rating. This adjustment follows the analyst's attendance at the Zeta Live 2024 event, where the company showcased new mobile functionalities, vertical clouds, and additional AI agents.
The event, attended by 1,300 participants, highlighted Zeta Global's focus on mobile capabilities, which the analyst believes is crucial for the company's long-term success. Positive feedback from customers on the new features supports this view, leading to the revised price target based on an enterprise value to sales multiple of 7.4 times the firm's fiscal year 2025 estimates.
Recent financial reports show a 33% increase in year-over-year revenue for the second quarter of 2024, with raised expectations for the third quarter. Financial firms like Craig-Hallum, Truist Securities, RBC Capital, and DA Davidson have also increased their price targets for Zeta Global, maintaining a Buy rating.
The company's recent product offerings, platform enhancements, and collaborations with industry partners highlight its strong positioning and growth trajectory in the competitive marketing and advertising landscape. Analysts express confidence in Zeta Global's ability to establish itself as a leading entity in the Software as a Service sector.
InvestingPro Insights
Zeta Global Holdings Corp's recent performance aligns with the positive outlook, showing impressive growth with a 32.61% increase in quarterly revenue as of Q2 2024. This growth, along with strong returns over the last three months, supports the optimistic view and increased price target.
InvestingPro Tips suggest that analysts predict profitability for Zeta Global this year, further reinforcing the company's market presence and potential. With a market capitalization of $6.79 billion, Zeta Global continues to attract attention from investors and industry experts alike.
For a more in-depth analysis, InvestingPro offers 11 additional tips for Zeta Global Holdings Corp, providing valuable insights into the company's financial health and market position.
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