Zeta Global Holdings Corp (ZETA)
NYSE:ZETA
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Zeta Global Holdings Corp
(NYSE:ZETA)
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Rating:74Outperform
Price Target:
$20.50
▲(14.02% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by strong cash generation, a strengthened balance sheet with minimal leverage, and a positive beat-and-raise earnings call with higher 2026 revenue/EBITDA/FCF guidance. Offsetting factors are ongoing GAAP losses (negative P/E) and only moderately positive technicals with elevated stochastics.
Positive Factors
Cash generation
Sustained, positive operating and free cash flow (~$214M/~$200M TTM) indicates strong cash conversion despite GAAP losses. This durable cash generation funds reinvestment, M&A, buybacks and cushioning versus revenue cyclicality, improving long-term financial flexibility.
Negative Factors
GAAP profitability
Ongoing GAAP losses and negative ROE, even as they narrow, mean reported profitability has not fully returned. Persistent accounting losses can limit some strategic options, affect investor confidence and tax/earnings dynamics, delaying durable EPS-based metrics improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained, positive operating and free cash flow (~$214M/~$200M TTM) indicates strong cash conversion despite GAAP losses. This durable cash generation funds reinvestment, M&A, buybacks and cushioning versus revenue cyclicality, improving long-term financial flexibility.
Read all positive factors
Zeta Global Holdings Corp (ZETA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.31B
Dividend YieldN/A
Average Volume (3M)6.47M
Price to Earnings (P/E)―
Beta (1Y)2.41
Revenue Growth33.60%
EPS Growth63.13%
CountryUS
Employees2,191
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.10
Shares Outstanding225,619,200
10 Day Avg. Volume7,167,612
30 Day Avg. Volume6,465,109
Financial Highlights & Ratios
PEG Ratio2.27
Price to Book (P/B)5.63
Price to Sales (P/S)3.47
P/FCF Ratio24.46
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue2.93
Enterprise Value/Gross Profit4.72
Enterprise Value/Ebitda58.04
Forecast
1Y Price Target
$28.31Price Target Upside57.44% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)0.97
Revenue Forecast (FY)$1.78B
Zeta Global Holdings Corp Business Overview & Revenue Model
Company Description
Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. Its Zeta Marketing Platform analyzes bil...
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 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.
Data provided by:
The Fly
The FlyZeta 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 | 72.58M | 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
16.74
Positive
18.26
Negative
18.26
Negative
Market Momentum
-0.06
Negative
60.55
Neutral
87.70
Negative
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 above the 20-day moving average (MA) of 16.09, above the 50-day MA of 16.74, and below the 200-day MA of 18.26, indicating a neutral trend. The MACD of -0.06 indicates Negative momentum. The RSI at 60.55 is Neutral, neither overbought nor oversold. The STOCH value of 87.70 is Negative, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $4.31B | -66.83 | -4.43% | ― | 33.60% | 63.13% | |
71 Outperform | $152.44B | 25.54 | 12.37% | 0.63% | 9.58% | 21.99% | |
68 Neutral | $12.55B | 98.40 | 5.02% | ― | 19.16% | 881.78% | |
66 Neutral | $1.98B | 23.63 | 7.96% | ― | 2.90% | 361.26% | |
65 Neutral | $408.56M | -15.56 | -22.88% | ― | 12.72% | 32.06% | |
64 Neutral | $1.36B | 44.10 | 3.93% | ― | 7.64% | -80.72% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
ZETA
Zeta Global Holdings Corp
17.14
2.82
19.69%
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197.34
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GTM
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6.38
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CXM
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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.