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Zeta Global Holdings Corp
(NYSE:ZETA)
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Rating:77Outperform
Price Target:
$28.00
▲(46.37% Upside)
Action:Reiterated
Date:08/05/26
The score is driven primarily by strong financial trajectory and cash generation (especially robust free cash flow) plus a highly positive earnings call featuring raised guidance and strong operational momentum. Technicals also support the setup with the stock trading above key moving averages and positive MACD. The main offset is valuation, where a deeply negative P/E underscores that consistent GAAP earnings power is still not fully established.
Positive Factors
Sustained Revenue and Customer Expansion
Zeta is demonstrating durable demand through sustained high growth, larger enterprise relationships and broader product adoption. Rising customer use cases and ARPU support recurring expansion within the installed base and strengthen long-term revenue visibility.
Negative Factors
GAAP Profitability Is Not Yet Durable
Despite progress toward break-even, inconsistent GAAP profitability leaves Zeta more exposed to cost overruns, execution issues and changes in revenue mix. The company must convert scale and cash generation into sustained bottom-line earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue and Customer Expansion
Zeta is demonstrating durable demand through sustained high growth, larger enterprise relationships and broader product adoption. Rising customer use cases and ARPU support recurring expansion within the installed base and strengthen long-term revenue visibility.
Read all positive factors
Zeta Global Holdings Corp Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Zeta Global Holdings Corp is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Zeta Global Holdings Corp is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
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The Fly
The FlyZeta Global Holdings Corp (ZETA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.09B
Dividend YieldN/A
Average Volume (3M)8.40M
Price to Earnings (P/E)―
Beta (1Y)2.68
Revenue Growth35.91%
EPS Growth94.31%
CountryUS
Employees3,300
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding227,375,180
10 Day Avg. Volume7,039,892
30 Day Avg. Volume8,404,216
Financial Highlights & Ratios
PEG Ratio2.30
Price to Book (P/B)5.63
Price to Sales (P/S)3.47
P/FCF Ratio24.46
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$31.31Price Target Upside63.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering16
EPS Forecast (FY)0.97
Revenue Forecast (FY)$1.82B
Zeta Global Holdings Corp Business Overview & Revenue Model
Company Description
Zeta Global Holdings Corp. provides a sophisticated, data-driven cloud platform globally, empowering enterprises with advanced consumer intelligence and automated marketing software. Its core offering, the Zeta Marketing Platform (ZMP), processes ...
How the Company Makes Money
Zeta primarily makes money by selling access to its marketing platform and related services to enterprise customers (brands) and marketing agencies. Its revenue model is centered on (1) software/platform subscriptions and usage-based fees for capa...
Zeta Global Holdings Corp Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: robust revenue acceleration, expanding margins, record free cash flow, rising sales productivity and substantial AI-driven adoption and concentration of revenue among AI super users. Strategic partnerships (OpenAI, Palantir, Snowflake), the Athena launch, and ZBI traction were highlighted as durable growth catalysts. Management noted a conservative stance in guidance (excluding much partner upside) and flagged some mix-related margin pressure and timing risks around new enterprise ZBI sales and partner-driven revenue. Overall, positive execution and visibility materially outweigh the noted risks and conservatisms.Positive Updates
Record Top-Line Growth and Consecutive Beat-and-Raise Streak
Q2 revenue of $443.0M, up 44% year-over-year (28% YoY excluding M&A); 20th consecutive beat-and-raise quarter and 21st straight quarter >20% revenue growth excluding M&A and political candidate revenue.
Negative Updates
Higher GAAP Cost of Revenue and Channel Mix Impact
GAAP cost of revenue was 41% in Q2, ~300 basis points higher YoY, driven in part by strong social channel adoption via agencies, which negatively impacted gross margin mix.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Top-Line Growth and Consecutive Beat-and-Raise Streak
Q2 revenue of $443.0M, up 44% year-over-year (28% YoY excluding M&A); 20th consecutive beat-and-raise quarter and 21st straight quarter >20% revenue growth excluding M&A and political candidate revenue.
Read all positive updates
Company Guidance
Zeta raised its 2026 outlook, increasing the full‑year revenue midpoint by $33.0M to $1.818B (growth 39% y/y; 25% excl. M&A & political revenue), and bumped Q3 midpoint revenue to $471M (+$10M), while maintaining Q3/Q4 political candidate revenue at $7M/$8M; full‑year adjusted EBITDA midpoint was raised $8M to $405M (up 45% y/y) with a 22.3% margin (+90 bps y/y) and Q3 adj. EBITDA midpoint to $115M (+$3M); free cash flow midpoint was increased $20M to $255M (up 55% y/y) with a 14% FCF margin and 63% conversion (tracking to a 2028 conversion target of 65%); GAAP EPS midpoint was raised to $0.10 (prior $0.02–$0.04) and management noted the guide includes a 2–5% conservatism cushion, uses 2028 model growth rates for customer and ARPU, assumes minimal go‑get partnership revenue, and is supported by a $1.0B credit facility for capital flexibility.Zeta Global Holdings Corp Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
74
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.57B | 1.30B | 1.01B | 728.72M | 590.96M | 458.34M |
| Gross Profit | 963.08M | 791.08M | 550.10M | 403.09M | 323.62M | 237.70M |
| EBITDA | 75.32M | 39.32M | -11.70M | -124.36M | -221.55M | -197.21M |
| Net Income | -2.17M | -31.51M | -69.77M | -187.48M | -279.24M | -249.56M |
Balance Sheet | ||||||
| Total Assets | 1.47B | 1.50B | 1.13B | 564.78M | 480.01M | 402.07M |
| Cash, Cash Equivalents and Short-Term Investments | 309.95M | 319.76M | 366.16M | 131.73M | 121.11M | 103.86M |
| Total Debt | 197.48M | 197.08M | 196.29M | 184.15M | 183.95M | 183.61M |
| Total Liabilities | 541.35M | 698.93M | 454.36M | 384.26M | 351.98M | 311.59M |
| Stockholders Equity | 926.50M | 804.59M | 676.80M | 180.52M | 128.03M | 90.49M |
Cash Flow | ||||||
| Free Cash Flow | 224.41M | 185.09M | 92.09M | 54.55M | 39.25M | 17.54M |
| Operating Cash Flow | 240.97M | 198.90M | 133.86M | 90.52M | 78.49M | 44.29M |
| Investing Cash Flow | -178.89M | -124.21M | -97.59M | -54.22M | -48.45M | -46.85M |
| Financing Cash Flow | -118.07M | -120.82M | 197.92M | -25.65M | -12.63M | 55.73M |
Zeta Global Holdings Corp Technical Analysis
Positive
19.13
Price Trends
22.32
Positive
20.20
Positive
19.42
Positive
Market Momentum
2.11
Negative
66.76
Neutral
74.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZETA, the sentiment is Positive. The current price of 19.13 is below the 20-day moving average (MA) of 25.10, below the 50-day MA of 22.32, and below the 200-day MA of 19.42, indicating a bullish trend. The MACD of 2.11 indicates Negative momentum. The RSI at 66.76 is Neutral, neither overbought nor oversold. The STOCH value of 74.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZETA.
Zeta Global Holdings Corp Risk Analysis
Zeta Global Holdings Corp disclosed 42 risk factors in its most recent earnings report. Zeta Global Holdings Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Zeta Global Holdings Corp Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $160.64B | 23.77 | 14.95% | 1.30% | 10.98% | 34.24% | |
77 Outperform | $7.09B | -3,271.59 | -0.26% | ― | 35.91% | 94.31% | |
74 Outperform | $11.28B | 85.37 | 7.75% | ― | 21.08% | ― | |
70 Outperform | $594.80M | -20.06 | -14.05% | ― | 11.85% | 47.54% | |
69 Neutral | $1.62B | 61.95 | 5.25% | ― | 8.10% | -73.21% | |
63 Neutral | $1.11B | -2.04 | -40.51% | ― | 2.66% | -808.37% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
ZETA
Zeta Global Holdings Corp
28.79
10.50
57.41%
CRM
Salesforce
205.43
-38.34
-15.73%
HUBS
HubSpot
239.86
-216.11
-47.40%
SPT
Sprout Social
10.03
-4.85
-32.57%
GTM
ZoomInfo Technologies
3.82
-6.28
-62.18%
CXM
Sprinklr
7.13
-1.17
-14.10%
Zeta Global Holdings Corp Corporate Events
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Zeta Global Announces New $1 Billion Credit Facility
Positive
Jul 27, 2026
On July 24, 2026, Zeta Global Holdings Corp. entered into a new five-year $1 billion senior secured credit facility with a consortium led by Bank of America, replacing its August 30, 2024 credit agreement and immediately repaying $200 million of o...
Executive/Board ChangesShareholder Meetings
Zeta Global Stockholders Endorse Directors, Auditor and Pay
Positive
Jun 16, 2026
On June 16, 2026, Zeta Global Holdings Corp. held its 2026 Annual Meeting of Stockholders, where shareholders elected three Class II directors—William Landman, Robert Niehaus, and Jeanine Silberblatt—to serve on the board until the 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.