RBC remains bullish on Zeta Global, says reaction to short report ‘overdone’

After hosting Zeta Global (ZETA) management for investor sessions at the 2024 RBC Capital Markets Technology, Internet, Media and Telecommunications Conference, RBC Capital thinks the reaction to the short report has been overdone and appreciates the transparency that management has shown so far in addressing it. From here, the firm came away feeling good about the core business as the key catalysts n are around ARPU and customer expansion, differentiation from the CDP, as well as its land-and-expand-and-extend flywheel. RBC Capital has an Outperform rating on Zeta Global with a price target of $43.