William Landman, a director at Zeta Global Holdings Corp. (NYSE:ZETA), recently acquired 8,010 shares of the company's Class A common stock, valued at approximately $148,585. The shares were purchased at a price of $18.55 each. Following this transaction, Landman directly owns 256,940 shares. Additionally, he holds indirect ownership of 66,664 shares through CMS Platinum Fund, L.P., and 607,165 shares through his spouse.
This acquisition adds to Landman's significant holdings in the company, reflecting ongoing confidence in Zeta Global's market position. The transactions were disclosed in a recent SEC filing.
In other recent news, Zeta Global Holdings Corp has made significant strides in its financial performance. The company reported a 42% year-over-year increase in Q3 2024 revenue to $268 million and a 59% rise in adjusted EBITDA to $54 million. This strong performance led to an upward revision of its full-year 2024 revenue outlook to $986 million. Amid these developments, Zeta Global faced a downgrade from KeyBanc Capital Markets from Overweight to Sector Weight.
In response to a short-seller report, Zeta Global emphasized the reliability of its financial practices and initiated a new $100 million share repurchase program. Analyst firms B.Riley, DA Davidson, and Needham reaffirmed their Buy ratings on Zeta Global. However, Canaccord Genuity adjusted its price target for Zeta, reducing it to $24 from the previous $42, but maintained a Buy rating.
Furthermore, Craig-Hallum increased its price target for Zeta Global, highlighting the company's AI and sales force expansion. Truist Securities also raised its price target following strong Q3 results, while Oppenheimer maintained an Outperform rating, projecting steady 20% organic growth. These are the recent developments at Zeta Global.
InvestingPro Insights
William Landman's recent purchase of Zeta Global Holdings Corp. (NYSE:ZETA) shares aligns with several positive indicators highlighted by InvestingPro. According to InvestingPro Tips, analysts anticipate sales growth for Zeta in the current year, and 11 analysts have revised their earnings upwards for the upcoming period. These projections suggest a potentially bright future for the company, which may have influenced Landman's decision to increase his stake.
The company's financial health appears robust, with InvestingPro data showing that Zeta holds more cash than debt on its balance sheet and its liquid assets exceed short-term obligations. This strong financial position could provide the company with flexibility for future growth initiatives.
Despite not being profitable over the last twelve months, Zeta has demonstrated impressive revenue growth. InvestingPro data reveals a revenue growth of 29.97% in the last twelve months as of Q3 2023, with quarterly revenue growth reaching 41.97% in Q3 2023. This rapid expansion may be a key factor in the director's decision to invest further in the company.
It's worth noting that while the stock has experienced significant volatility recently, with a 52.15% decline in the past week, it has shown remarkable performance over the longer term. The one-year price total return stands at an impressive 107.56%, indicating strong market confidence in Zeta's potential.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Zeta Global Holdings Corp., providing a deeper understanding of the company's financial landscape and market position.
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