B. Riley analyst Zach Cummins raised the firm’s price target on Zeta Global to $24 from $18.50 and keeps a Buy rating on the shares ahead of the Q2 report on July 31. The firm expects the Q2 results and fiscal 2024 outlook will at least meet or potentially exceed expectations, driven by sustained strength in the core business, the continued recovery in the auto and insurance verticals, the building momentum in the agency channel, and the anticipated boost from political revenue in the second half of 2024. The analyst sees additional share upside, saying Zeta’s “differentiated” first-party consumer dataset and artificial intelligence-powered marketing automation platform should position the company for sustained share gains amid a marketing cloud replacement cycle in the coming years.
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