Zeta Global Holdings Corp (ZETA) PT Raised to $29 at RBC Capital

RBC Capital analyst Matthew Swanson raised the price target on Zeta Global Holdings Corp (NYSE: ZETA) to $29.00 (from $23.00) while maintaining a Outperform rating.

The analyst comments "Zeta delivered a strong quarter driven by an upward inflection in ARPU propelled by broad-based strength from up/cross-sell as well as brand expansions within agency customers. Management noted that the revenue outperformance was directly impacted by the company’s AI solutions seeing traction across all three product lines, which each grew +25% for the first time. We maintain our Outperform rating and raise our price target to $29 from $23; we increase our multiple to 6.0x CY/25E EV/S from 5.0x, as the ARPU inflection sets an attractive revenue ramp for 2H/24."

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