NEW YORK—Robert H. Niehaus, a director at Zeta Global Holdings Corp. (NYSE:ZETA), recently acquired 30,000 shares of the company's common stock. The purchase amounted to a total of $558,600, with the shares bought at a weighted average price of $18.62. The transaction, which took place on November 18, 2024, increased Niehaus's total holdings to 308,558 shares. The shares were acquired in multiple transactions, with prices ranging from $18.52 to $18.79.
In other recent news, Zeta Global reported 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 its full-year 2024 revenue outlook to $986 million. Amid these developments, Zeta Global faced a downgrade from KeyBanc Capital Markets from Overweight to Sector Weight.
Concurrently, the company's CEO and other leaders plan to purchase approximately $3 million of the company's Class A common stock, signaling confidence in the firm's future. In response to a short-seller report, Zeta Global initiated a new $100 million share repurchase program.
Analyst firms B.Riley and DA Davidson reaffirmed their Buy ratings on Zeta Global, 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 on Zeta Global. These are some of the recent developments surrounding Zeta Global.
InvestingPro Insights
Robert H. Niehaus's recent acquisition of Zeta Global Holdings Corp. (NYSE:ZETA) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has demonstrated strong performance, with a remarkable 131.17% return over the past year. This impressive gain suggests that Niehaus's investment could be well-timed, potentially capitalizing on the company's growth trajectory.
InvestingPro data reveals that Zeta's revenue growth has been robust, with a 41.97% increase in the most recent quarter. This growth is complemented by a healthy gross profit margin of 60.26% for the last twelve months, indicating efficient operations and potential for future profitability.
According to InvestingPro Tips, analysts anticipate sales growth in the current year, which could further justify Niehaus's decision to increase his stake. Additionally, 11 analysts have revised their earnings expectations upward for the upcoming period, signaling positive sentiment about Zeta's financial prospects.
It's worth noting that while Zeta is not currently profitable over the last twelve months, analysts predict the company will turn a profit this year. This expectation, combined with the fact that Zeta holds more cash than debt on its balance sheet, suggests a potentially improving financial position.
For investors seeking a 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.
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