In a report released yesterday, David Hynes from Canaccord Genuity maintained a Buy rating on Zeta Global Holdings Corp (ZETA – Research Report), with a price target of $13.00.
David Hynes has given his Buy rating due to a combination of factors including the company’s consistent performance and strategic growth prospects. Zeta Global Holdings Corp has demonstrated a solid track record, with its tenth consecutive quarter of revenue growth and earnings before interest, taxes, depreciation, and amortization (EBITDA) margins that exceed expectations. This consistent outperformance, coupled with an initial guide for the following year that surpasses analyst predictions, suggests a strong growth trajectory for the company. Hynes sees potential for Zeta to maintain a growth rate in the low to mid-twenties percentage range, reinforcing his positive outlook on the stock.
Moreover, Hynes’s confidence is bolstered by several key drivers: the development of new and expanding partnerships, a recovery in spending within critical industry verticals, and anticipated seasonal strength in the latter half of the year. Additionally, the company’s focus on product enhancements and the integration of artificial intelligence, particularly with the introduction of the Intelligent Agent Composer, is expected to contribute to future growth. The commitment to managing share dilution further supports the financial stability of Zeta. Despite a strong start to the year, Hynes still finds the valuation of Zeta’s stock to be highly attractive compared to other software companies with similar growth rates, reinforcing his Buy recommendation.
Hynes covers the Technology sector, focusing on stocks such as Shopify, ON24, and Procore Technologies. According to TipRanks, Hynes has an average return of 11.9% and a 57.14% success rate on recommended stocks.
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Zeta Global Holdings Corp (ZETA) Company Description:
Zeta Global Holdings Corp is a omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software. It serves more than 1,000 enterprise customers across multiple industries, including financial services, insurance, telecommunications, automotive, travel and hospitality, and retail.
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