B. Riley lowered the firm’s price target on Zeta Global (ZETA) to $29 from $44 and keeps a Buy rating on the shares ahead of the Q1 report on May 1. The firm anticipates “solid” Q1 results, but expects investors will be more concerned with the forward outlook in a weakening macro backdrop. Zeta appears well positioned to gain share in a softening ad environment that will prioritize efficient spend, the analyst tells investors in a research note. However, Riley cut the price target to reflect elevated macro uncertainty and peer multiple compression.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZETA:
- Zeta Global price target lowered to $15 from $25 at Morgan Stanley
- Zeta Global price target lowered to $34 from $42 at Truist
- Zeta Global price target lowered to $25 from $42 at DA Davidson
- Zeta Global Holdings call volume above normal and directionally bullish
- Zeta Global Holdings Corp: Strong Long-Term Growth Potential and Strategic Confidence Reinforce Buy Rating