Zeta Global initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of Zeta Global (ZETA) with a Neutral rating and $30 price target The firm notes that with the stock up over 150% year-to-date, its positive view of the company’s differentiated positioning and the 40% upside to its price target is offset by the high stock volatility and “several medium term risks” for Zeta, the analyst tells investors in a research note. These include conversations which suggest that proprietary data may become less useful as more and more merchants have access to it as well as the possibility of 2024 being particularly strong year for ad spend given the Summer Olympics and the Elections, the firm added.