On Tuesday, Barclays has adjusted its outlook on Zeta Global Holdings Corp (NYSE: ZETA), increasing the stock price target to $18.00 from the previous $15.00. The firm maintains an Overweight rating on the company's shares. This revision follows Zeta Global's announcement of progress toward its 2025 goals and an update to its full-year guidance.
Zeta Global, a data-driven marketing technology company, has recently updated its financial year 2024 revenue guidance. This update exceeded the first quarter's performance by approximately $8 million and raised the yearly forecast by about $25 million.
The company's ability to secure more lucrative deals has been highlighted, with the addition of 8 scaled customers and 13 super-scaled customers in the first quarter of 2024.
The analyst at Barclays expressed confidence in Zeta Global's trajectory, noting that the company's 2025 targets now seem more achievable. The raised guidance for the fiscal year is expected to capture the attention of investors and potentially influence their perception of the company's future performance.
Zeta Global's focus on expanding its customer base, particularly among larger scale clients, demonstrates its successful execution of upmarket deal opportunities. This strategic move is likely to bolster the company's revenue streams and competitive position in the industry.
As the markets open tomorrow, investor focus will likely be on Zeta Global's revised financial forecasts and its implications for the company's growth prospects. The updated stock price target from Barclays reflects a positive outlook on Zeta Global's financial health and market potential.
InvestingPro Insights
With Barclays' updated price target for Zeta Global Holdings Corp (NYSE: ZETA), investors might be keen to understand the company's financial health and market potential in real-time.
According to InvestingPro data, Zeta Global boasts a market capitalization of $2.84 billion, underscoring its substantial presence in the marketing technology space. Despite not being profitable in the last twelve months, the company has shown a notable revenue growth of 23.31% for the same period, indicating an expanding business scale.
An InvestingPro Tip highlights that analysts have revised their earnings upwards for the upcoming period, suggesting that Zeta Global's financial trajectory could be on an upswing. Additionally, the company's liquid assets surpassing short-term obligations and a moderate level of debt are positive indicators of financial stability.
For those interested in the company's stock performance, Zeta Global has experienced a strong return over the last three months, with a 35.28% price total return, and is trading near its 52-week high, at 99.11% of the peak price.
For investors looking to dive deeper into Zeta Global's financials and stock performance, there are additional InvestingPro Tips available at https://www.investing.com/pro/ZETA. To access a comprehensive set of tools and insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, InvestingPro offers a total of 11 tips for Zeta Global, providing a more nuanced understanding of the company's position and prospects.
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