Monday - Truist Securities has initiated coverage on Zeta Global Holdings Corp (NYSE: ZETA) stock with a Buy rating and a price target of $23.00. The firm highlighted Zeta's potential as a disruptive player in the marketing technology (martech) sector, noting its unique combination of data, artificial intelligence-powered intelligence, marketing cloud, and activation capabilities.
According to Truist, Zeta Global stands out for providing marketers with valuable insights and buying intent that can optimize customer acquisition and lifetime value. The firm's analysts expect Zeta to continue its trajectory of strong revenue growth and expanding profits and cash flow.
Truist's assessment suggests that the conservative estimates for Zeta's 2024 and 2025 financial performance could lead to further multiple expansion for the company's stock. The firm's endorsement reflects confidence in Zeta's ability to exceed these expectations and potentially enhance shareholder value.
The Buy rating and $23.00 price target come as Zeta Global stock continues to carve out a significant presence in the rapidly evolving martech industry. Truist's coverage is expected to bring increased investor attention to Zeta's business model and market strategy.
Zeta Global's position in the market is bolstered by its sophisticated use of data and AI, which Truist Securities believes will contribute to the company's sustained growth and profitability. The firm's optimistic outlook on Zeta's stock is based on these key drivers and the anticipated positive financial outcomes.
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