RBC Capital raised the firm’s price target on Zeta Global to $29 from $23 and keeps an Outperform rating on the shares. The company delivered a strong quarter driven by an upward inflection in ARPU, average revenue per user, that was propelled by broad-based strength from up- and cross-sell as well as brand expansions within agency customers, the analyst tells investors in a research note. Zeta also indicated that revenue outperformance was directly impacted by the company’s AI solutions seeing traction across all three product lines, RBC added.
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