BofA lowered the firm’s price target on Zeta Global (ZETA) to $30 from $50 and keeps a Buy rating on the shares. The firm maintains its Buy rating in the wake of a short report that calls into question Zeta Global’s data collection and revenue generating practices, as it continues to believe Zeta has a differentiated marketing and advertising offering that will be a long-term share gainer. However, the firm also believes “the noise caused by the report” has elevated execution and regulatory risks around its data practices, so BofA is reducing its 2025 and 2026 revenue forecasts by roughly 10%.
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