Barclays sees story getting ‘more challenging,’ cuts Zeta Global to Equal Weight

As previously reported, Barclays downgraded Zeta Global (ZETA) to Equal Weight from Overweight with an unchanged price target of $28. As investors start to look at Zeta’s FY25 organic growth/comps and a choice between either improving gross margins or additional revenue growth, the firm thinks the “story gets more challenging from here,” the analyst tells investors. The firm also believes that valuation is “less attractive here” as it assigns a lower multiple to Integrated revenue growth, the analyst added.