On August 27, Zeta Global Holdings Corp. rose 5.7% in regular trading, trading at $29.815 per share with turnover of $26.56 million. The move was driven by Bank of America's recent target price increase from $29 to $34, reaffirming a Buy rating, alongside a broader software sector valuation recovery.
BofA's upgrade reflects strengthening fundamentals following a strong Q2 report, in which Zeta posted revenue of $442.8 million versus the $420.6 million consensus estimate, while swinging to net income of $8.17 million from a year-ago loss. The company also raised full-year revenue guidance to $1.811–$1.824 billion, above the Street's $1.79 billion expectation. Additionally, Zeta's strategic partnership with Palantir to co-build enterprise AI infrastructure — expected to generate over $100 million in incremental revenue — continues to underpin growth expectations. The company further bolstered financial flexibility by closing a $1 billion credit facility in late July for refinancing, share buybacks, and acquisitions.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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