Zeta Global Holdings (NYSE:ZETA) is a company developing cloud-based AI-powered CDP (Customer Data Platform) and marketing technology platforms for enterprise businesses.
All-time share performance has been strong. Having gone public in 2021 at a price of $8.3, the stock is currently trading at $17, up by over 108%. The biggest outperformance driver would be the significant appreciation in share price YTD. ZETA has seen a 96% increase in share price over the past year, and more than 105% YTD.
I rate the stock a buy. My 1-year price target of $18.9 per share projects about 10% upside. At this level, ZETA appears to be slightly richly valued, yet still presents a decent buy opportunity. In my opinion, the strong enterprise marketing technology stack modernization, driven by AI trends, should continue driving new business wins for ZETA in FY 2024.
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