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Zeta Global Holdings Corp
(NYSE:ZETA)
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Rating:73Outperform
Price Target:
$24.00
▲(33.48% Upside)
Action:Reiterated
Date:06/17/26
The score is driven primarily by strong cash generation, a significantly improved balance sheet with minimal leverage, and positive forward outlook from a beat-and-raise earnings call. These are tempered by the lack of consistent GAAP profitability, a weak/neutral near-term technical posture, and limited valuation support due to a negative P/E and no dividend yield provided.
Positive Factors
Cash Generation
Zeta’s FCF of roughly $200M TTM and rising operating cash flow show durable cash conversion despite GAAP losses. Strong free cash allows organic investment in product, selective M&A, buybacks and buffers working-capital swings without needing levered financing.
Negative Factors
GAAP Profitability
Despite improving results, continued GAAP losses and negative ROE remain structural constraints. Accounting losses limit net income buffers, can affect tax timing and equity returns, and mean sustained transition to consistent GAAP profitability is required to fully remove investor and capital-allocation overhangs.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Zeta’s FCF of roughly $200M TTM and rising operating cash flow show durable cash conversion despite GAAP losses. Strong free cash allows organic investment in product, selective M&A, buybacks and buffers working-capital swings without needing levered financing.
Read all positive factors
Zeta Global Holdings Corp Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Zeta Global Holdings Corp is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Zeta Global Holdings Corp is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
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The Fly
The FlyZeta Global Holdings Corp (ZETA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.33B
Dividend YieldN/A
Average Volume (3M)8.57M
Price to Earnings (P/E)―
Beta (1Y)2.32
Revenue Growth33.60%
EPS Growth63.13%
CountryUS
Employees3,300
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.10
Shares Outstanding225,619,200
10 Day Avg. Volume8,104,303
30 Day Avg. Volume8,569,430
Financial Highlights & Ratios
PEG Ratio2.30
Price to Book (P/B)5.63
Price to Sales (P/S)3.47
P/FCF Ratio24.46
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$28.32Price Target Upside57.50% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering16
EPS Forecast (FY)0.96
Revenue Forecast (FY)$1.79B
Zeta Global Holdings Corp Business Overview & Revenue Model
Company Description
Zeta Global Holdings Corp. provides a sophisticated, data-driven cloud platform globally, empowering enterprises with advanced consumer intelligence and automated marketing software. Its core offering, the Zeta Marketing Platform (ZMP), processes ...
How the Company Makes Money
Zeta primarily makes money by selling access to its marketing technology platform and related services to businesses. Its revenue model is largely recurring and usage-based, tied to customers’ ongoing use of the Zeta Marketing Platform to run mark...
Zeta Global Holdings Corp Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong, broad-based operational momentum: sizable top-line growth (50% YoY; 29% ex-acquisitions), improving profitability and cash generation, meaningful customer expansion (ARPU +21%, multi-use +50%), rapid early adoption of Athena (7x agentic interactions, 60% AI usage) and pipeline growth (+40% YoY). Near-term headwinds included a Q1 GAAP loss (improved but negative), an increase in cost of revenue (41%, +190 bps YoY) driven by initial agency/social mix, and a working capital headwind from agency payment cycles. Management emphasized Marigold integration progressing ahead of plan and maintained conservative guidance assumptions (minimal Athena revenue contribution baked in). On balance, the positives — recurring revenue strength, accelerating customer monetization, improved free cash flow conversion, product-led differentiation (Athena, SuperGraph) and expanding pipeline — materially outweigh the limited near-term margin/cash-cycle headwinds.Positive Updates
Consistent Beat-and-Raise Performance
Delivered 19th consecutive beat-and-raise quarter; raised full-year 2026 revenue midpoint by $30M to $1.785B (37% reported growth; 22% growth excluding Marigold and political revenue). Q2 2026 midpoint revenue $420M (36% YoY; 21% ex Marigold/political).
Negative Updates
GAAP Loss Remains (but Improving)
GAAP net loss of $13.2M in Q1 (improved from $21.6M YoY) and GAAP loss per share $0.06; company pacing toward a modest GAAP EPS target of $0.02-$0.04 for full-year 2026 but remains loss-making on a GAAP basis in Q1.
Read all updates
Q1-2026 Updates
Positive
Negative
Consistent Beat-and-Raise Performance
Delivered 19th consecutive beat-and-raise quarter; raised full-year 2026 revenue midpoint by $30M to $1.785B (37% reported growth; 22% growth excluding Marigold and political revenue). Q2 2026 midpoint revenue $420M (36% YoY; 21% ex Marigold/political).
Read all positive updates
Company Guidance
Zeta raised its 2026 outlook, increasing the revenue midpoint by $30 million to $1.785 billion (reported growth of 37%, or 22% ex‑Marigold and political revenue) and setting Q2 midpoint revenue at $420 million (up $4 million, +36% YoY or +21% ex‑Marigold/politicals); management assumes $15 million of political candidate revenue in 2026 ($7M Q3, $8M Q4) and is conservatively modeling Marigold at $47.5 million per quarter for the remainder of the year. Full‑year adjusted EBITDA midpoint was raised to $397 million (up $6 million), a 43% YoY increase at a 22.3% margin (+90 bps vs. 2025), with Q2 adjusted EBITDA now expected at $86.6 million (vs. prior $84.9M) and a 20.6% margin (+155 bps YoY). Free cash flow guidance increased to $235 million (from $231M), up 43% YoY and representing ~59% of adjusted EBITDA (Q1 FCF was $41.7M, 10.5% margin, 63% conversion); Zeta reiterated a 2026 GAAP EPS target of $0.02–$0.04 (Q1 GAAP loss $13.2M, $0.06 loss per share). Management pointed to Q1 strength that underpins the raise: Q1 revenue $396M (+50% reported, +29% ex‑Marigold), adjusted EBITDA $66.1M, 189 super‑scaled customers (+19% YoY) with $1.7M ARPU (+21% YoY), a sales pipeline up ~40% YoY and RPOs up $66M QoQ.Zeta Global Holdings Corp Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
80
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.44B | 1.30B | 1.01B | 728.72M | 590.96M | 458.34M |
| Gross Profit | 892.76M | 791.08M | 550.10M | 403.09M | 323.62M | 237.70M |
| EBITDA | 49.91M | 39.32M | -11.70M | -124.36M | -221.55M | -197.21M |
| Net Income | -23.16M | -31.51M | -69.77M | -187.48M | -279.24M | -249.56M |
Balance Sheet | ||||||
| Total Assets | 1.45B | 1.50B | 1.13B | 564.78M | 480.01M | 402.07M |
| Cash, Cash Equivalents and Short-Term Investments | 288.78M | 319.76M | 366.16M | 131.73M | 121.11M | 103.86M |
| Total Debt | 218.61M | 197.08M | 196.29M | 184.15M | 183.95M | 183.61M |
| Total Liabilities | 566.87M | 698.93M | 454.36M | 384.26M | 351.98M | 311.59M |
| Stockholders Equity | 880.33M | 804.59M | 676.80M | 180.52M | 128.03M | 90.49M |
Cash Flow | ||||||
| Free Cash Flow | 199.75M | 185.09M | 92.09M | 54.55M | 39.25M | 17.54M |
| Operating Cash Flow | 213.84M | 198.90M | 133.86M | 90.52M | 78.49M | 44.29M |
| Investing Cash Flow | -172.35M | -124.21M | -97.59M | -54.22M | -48.45M | -46.85M |
| Financing Cash Flow | -117.06M | -120.82M | 197.92M | -25.65M | -12.63M | 55.73M |
Zeta Global Holdings Corp Technical Analysis
Positive
17.98
Price Trends
20.02
Positive
18.62
Positive
18.77
Positive
Market Momentum
0.59
Negative
55.73
Neutral
48.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZETA, the sentiment is Positive. The current price of 17.98 is below the 20-day moving average (MA) of 20.61, below the 50-day MA of 20.02, and below the 200-day MA of 18.77, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 55.73 is Neutral, neither overbought nor oversold. The STOCH value of 48.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZETA.
Zeta Global Holdings Corp Risk Analysis
Zeta Global Holdings Corp disclosed 42 risk factors in its most recent earnings report. Zeta Global Holdings Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Zeta Global Holdings Corp Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $141.42B | 19.70 | 14.95% | 0.63% | 10.98% | 34.24% | |
73 Outperform | $5.33B | -217.89 | -3.04% | ― | 33.60% | 63.13% | |
72 Outperform | $11.50B | 117.52 | 5.02% | ― | 21.05% | ― | |
69 Neutral | $518.11M | -13.06 | -19.29% | ― | 12.27% | 37.41% | |
64 Neutral | $1.37B | 50.65 | 5.25% | ― | 8.10% | -73.21% | |
62 Neutral | $922.47M | 7.85 | 8.36% | ― | 3.64% | 230.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
ZETA
Zeta Global Holdings Corp
21.68
6.05
38.71%
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Zeta Global Holdings Corp Corporate Events
Executive/Board ChangesShareholder Meetings
Zeta Global Stockholders Endorse Directors, Auditor and Pay
Positive
Jun 16, 2026
On June 16, 2026, Zeta Global Holdings Corp. held its 2026 Annual Meeting of Stockholders, where shareholders elected three Class II directors—William Landman, Robert Niehaus, and Jeanine Silberblatt—to serve on the board until the 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.