KeyBanc stays sidelined on Zeta as CEO says people interested in buying company

KeyBanc analyst Jackson Ader says that looking at Zeta Global’s (ZETA) results, the updated guidance, the commentary on the call and the floundering shares after hours had the firm wondering, “What is it going to take to make this stock go up?” Then at minute 48 of the earnings call KeyBanc may have found its answer. Founder and CEO David Steinberg, in response to a question regarding its M&A strategy, let slip that he’s been fielding calls in recent weeks from people interested in buying Zeta, the firm said. When questions of people were interested in buying the company or buying Zeta software, CEO David Steinberg said, “No, it was the prior.” “Well, we guess that’s one way to make the stock go up,” KeyBanc adds. The firm is reiterating its Sector Weight rating based on continued traction around short theses on Zeta’s data collection practices.