Zeta Global Holdings Corp. (ZETA)

NYSEInformation TechnologySoftware - ApplicationSnapshot 2026-10-23

$33.98+1.37%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Zeta Global Holdings Corp.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-0.3%

+10% or more+5%0%−5%−10% or less

1.20 → 1.20 EPS · FY ending Dec 31, 2027 · 8 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 8 to 8; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q3
Increasing revenue	$469M–$472M	—
EBITDA	$115M–$116Mnon-GAAP	—
FY 2026 · Q4
Revenue	—	509.87M
EPS	—	0.331
FY 2026 · Annual
Increasing revenue	$1.81B–$1.82B	—
Revenue	$33M–$1.82B	1.82B
EPS	$0.09–$0.11GAAP	0.97
EBITDA	$404.1M–$406.3Mnon-GAAP	—
Free cash flow	$254.8M–$255.8M	—
FY 2027 · Annual
Revenue	—	2.11B
EPS	—	1.196

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Free cash flow reaches about $235M in FY26	Free cash flow rises to $235M in 2026.	Intact	Free cash flow falls below $157M in FY26 or declines year-over-year	Free cash flow: $64.359M FY2026-Q2; GAAP. Published target: ~$235M. Target period is not explicitly aligned with this observation. Source published Aug 5, 202664,359,000 USD · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Free cash flow guidance rose from $231.2 million in 2025-Q4 to $255.3 million in 2026-Q2. Actual cash from operating activities increased from $34.8 million in 2025-Q1 to $69.2 million in 2026-Q2. Management is delivering improved cash generation and raising guidance accordingly. Delivery assessment Oct 24, 2026
Achieve positive GAAP net income in FY26	A primary condition in Zeta Global Holdings Corp.'s published investment case. The stated target is Positive GAAP net income.	Intact	Net income remains negative or worsens beyond -$13M in FY26	Net income: $8.173M FY2026-Q2; GAAP. Published target: Positive GAAP net income. Target period is not explicitly aligned with this observation. Source published Aug 5, 20268,173,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: ffb415ad-5888-4e17-a767-8231c6652347. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue grows to about $1.785B in FY26	Zeta grows revenue from $1.29B in 2025 to about $1.79B in 2026.	Intact	Revenue falls below $1.29B in FY26 or fails to grow meaningfully year-over-year	Revenue: $442.766M FY2026-Q2; GAAP. Published target: ~$1.785B. Target period is not explicitly aligned with this observation. Source published Aug 5, 2026442,766,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: ffb415ad-5888-4e17-a767-8231c6652347. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Revenue guidance increased from $1,755 million in 2025-Q4 to $1,818 million in 2026-Q2, reflecting year-over-year growth of about 39%. Actual revenue grew from $264 million in 2025-Q1 to $443 million in 2026-Q2. Management is delivering consistent acceleration in revenue growth and guidance increases. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$1.20

$1.14 → $1.20 · observed estimates

FY2027 revenue$2.11B

$2.07B → $2.11B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$1.14	$2,074,999,531	8 / 12
2026-07-25	$1.15	$2,074,999,530	12 / 15
2026-07-26	$1.14	$2,074,999,531	8 / 12
2026-07-27	$1.15	$2,074,999,530	12 / 15
2026-07-28	$1.14	$2,074,999,531	8 / 12
2026-07-29	$1.15	$2,074,999,530	12 / 15
2026-07-30	$1.15	$2,074,999,530	12 / 15
2026-07-31	$1.15	$2,074,999,530	12 / 15
2026-08-01	$1.14	$2,074,999,531	8 / 12
2026-08-02	$1.15	$2,074,999,530	12 / 15
2026-08-03	$1.15	$2,074,999,530	12 / 15
2026-08-04	$1.15	$2,074,999,530	12 / 15
2026-08-05	$1.14	$2,075,000,918	8 / 12
2026-08-06	$1.14	$2,075,000,918	8 / 12
2026-08-08	$1.20	$2,110,796,392	8 / 12
2026-08-09	$1.20	$2,110,796,392	8 / 12
2026-08-10	$1.20	$2,110,796,392	8 / 12
2026-08-12	$1.21	$2,110,796,390	13 / 15
2026-08-13	$1.20	$2,110,796,392	8 / 12
2026-08-14	$1.20	$2,110,796,392	8 / 12
2026-08-15	$1.20	$2,110,796,392	8 / 12
2026-08-16	$1.20	$2,110,796,392	8 / 12
2026-08-17	$1.20	$2,110,796,392	8 / 12
2026-08-18	$1.20	$2,110,796,392	8 / 12
2026-08-19	$1.20	$2,110,796,392	8 / 12
2026-08-20	$1.20	$2,111,186,862	8 / 12
2026-08-21	$1.20	$2,111,186,862	8 / 12
2026-08-22	$1.20	$2,111,186,862	8 / 12
2026-08-23	$1.20	$2,111,186,862	8 / 12
2026-08-24	$1.20	$2,111,186,862	8 / 12
2026-08-25	$1.20	$2,111,188,665	8 / 12
2026-08-26	$1.20	$2,111,188,665	8 / 12
2026-08-27	$1.20	$2,111,188,665	8 / 12
2026-08-28	$1.20	$2,111,188,665	8 / 12
2026-08-29	$1.20	$2,111,188,665	8 / 12
2026-08-30	$1.20	$2,111,188,665	8 / 12
2026-08-31	$1.20	$2,111,188,665	8 / 12
2026-09-01	$1.20	$2,111,188,665	8 / 12
2026-09-02	$1.20	$2,111,188,665	8 / 12
2026-09-03	$1.20	$2,111,188,665	8 / 12
2026-09-04	$1.20	$2,111,188,665	8 / 12
2026-09-05	$1.20	$2,111,188,665	8 / 12
2026-09-06	$1.20	$2,111,188,665	8 / 12
2026-09-07	$1.20	$2,111,188,665	8 / 12
2026-09-08	$1.20	$2,111,188,665	8 / 12
2026-09-09	$1.20	$2,111,188,665	8 / 12
2026-09-10	$1.20	$2,111,188,665	8 / 12
2026-09-11	$1.20	$2,111,188,665	8 / 12
2026-09-12	$1.20	$2,111,188,665	8 / 12
2026-09-13	$1.20	$2,111,188,665	8 / 12
2026-09-14	$1.20	$2,111,188,665	8 / 12
2026-09-15	$1.20	$2,111,188,665	8 / 12
2026-09-16	$1.20	$2,111,188,665	8 / 12
2026-09-17	$1.20	$2,111,188,665	8 / 12
2026-09-18	$1.20	$2,111,188,665	8 / 12
2026-09-19	$1.20	$2,111,188,665	8 / 12
2026-09-20	$1.20	$2,111,188,665	8 / 12
2026-09-21	$1.20	$2,111,188,665	8 / 12
2026-09-22	$1.20	$2,111,188,665	8 / 12
2026-09-23	$1.20	$2,111,188,665	8 / 12
2026-09-24	$1.20	$2,111,188,665	8 / 12
2026-09-25	$1.20	$2,111,188,665	8 / 12
2026-09-26	$1.20	$2,111,188,665	8 / 12
2026-09-27	$1.20	$2,111,188,665	8 / 12
2026-09-28	$1.20	$2,111,188,665	8 / 12
2026-09-29	$1.20	$2,111,188,665	8 / 12
2026-09-30	$1.20	$2,111,188,665	8 / 12
2026-10-01	$1.20	$2,111,188,665	8 / 12
2026-10-02	$1.20	$2,111,188,665	8 / 12
2026-10-03	$1.20	$2,111,188,665	8 / 12
2026-10-04	$1.20	$2,111,188,665	8 / 12
2026-10-05	$1.20	$2,111,188,665	8 / 12
2026-10-06	$1.20	$2,111,188,665	8 / 12
2026-10-07	$1.20	$2,111,183,392	8 / 12
2026-10-08	$1.20	$2,111,183,392	8 / 11
2026-10-09	$1.20	$2,111,183,392	8 / 11
2026-10-10	$1.20	$2,111,625,589	8 / 12
2026-10-11	$1.20	$2,111,625,589	8 / 12
2026-10-12	$1.20	$2,111,625,589	8 / 12
2026-10-13	$1.20	$2,111,625,589	8 / 12
2026-10-14	$1.20	$2,111,625,589	8 / 12
2026-10-15	$1.20	$2,111,625,589	8 / 12
2026-10-16	$1.20	$2,111,625,589	8 / 12
2026-10-17	$1.20	$2,111,625,589	8 / 12
2026-10-18	$1.20	$2,112,956,788	8 / 12
2026-10-19	$1.20	$2,112,956,788	8 / 12
2026-10-20	$1.20	$2,112,956,788	8 / 12
2026-10-21	$1.20	$2,112,956,788	8 / 12
2026-10-22	$1.20	$2,112,956,788	8 / 12
2026-10-23	$1.20	$2,112,956,788	8 / 12
2026-10-24	$1.20	$2,112,956,788	8 / 12

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	12	2
2026-06-01	13	2
2026-07-01	13	2
2026-08-01	13	3
2026-09-01	12	3
2026-10-01	13	3

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 13 Buy / Strong Buy · 3 Hold · 0 Sell / Strong Sell

1 upgrades0 downgrades8 maintains

Recent actions · Sep 25–Oct 24 · 9 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Goldman SachsOct 16 · prior Jun 24

$28.00 → $45.00+60.7%

Roth CapitalOct 12

$55.00New observation · no comparable prior

Craig-HallumOct 12

$38.00New observation · no comparable prior

Truist FinancialOct 9

$38.00New observation · no comparable prior

New StreetOct 9

$38.00New observation · no comparable prior

NeedhamOct 9

$40.00New observation · no comparable prior

Canaccord GenuityOct 9

$37.00New observation · no comparable prior

D.A. DavidsonOct 6 · prior Aug 5

$32.00 → $38.00+18.8%

RBC CapitalOct 5 · prior Aug 5

$31.00 → $40.00+29.0%

$0$30.25$60.50

3 raises · 0 cuts · 0 unchanged · 6 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Free cash flow reaches about $235M in FY26Free cash flow: $64.359M
Achieve positive GAAP net income in FY26Net income: $8.173M
Revenue grows to about $1.785B in FY26Revenue: $442.766M

Next proof point

Nov 3, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.1%Typical daily move · historical

Downside history

-40.4%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Zeta Global Holdings Corp. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a growth-oriented business with improving operating results, but it is not yet a steady, proven compounder because earnings quality is still marked loss-making. The long-term thesis is on watch: management has raised guidance, while the overall signal has shifted from mildly favorable to mixed.

What's priced into Zeta Global Holdings Corp.

The valuation model describes expectations as justified, with valuation about 12% above peers and expectations broadly aligned with the business outlook. The expectations gap is somewhat negative, so the evidence does not show a clear cushion against weaker execution.

What the fundamentals likely do

Near term, management’s revenue and free-cash-flow priorities are on track, and second-quarter net income was positive after a first-quarter loss. Full-year profitability remains a mixed signal, while recent financial performance is below the industry cohort and earnings surprises have been erratic.

What Zeta Global Holdings Corp. hinges on

The multi-year view depends on continued revenue and cash-flow growth and on sustaining progress toward positive full-year GAAP net income. A guidance cut after the recent increase would damage credibility; easier interest rates and stronger results from sector peers could support the broader technology backdrop.

Bottom line

Over the next one to three years, ZETA’s thesis combines encouraging guidance and cash generation with elevated risk, uneven profitability, and performance below its industry cohort. Not investment advice.

Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q3
Increasing revenue	$469M–$472M	—
EBITDA	$115M–$116Mnon-GAAP	—
FY 2026 · Q4
Revenue	—	509.87M
EPS	—	0.331
FY 2026 · Annual
Increasing revenue	$1.81B–$1.82B	—
Revenue	$33M–$1.82B	1.82B
EPS	$0.09–$0.11GAAP	0.97
EBITDA	$404.1M–$406.3Mnon-GAAP	—
Free cash flow	$254.8M–$255.8M	—
FY 2027 · Annual
Revenue	—	2.11B
EPS	—	1.196

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$1.20

$1.14 → $1.20 · observed estimates

FY2027 revenue$2.11B

$2.07B → $2.11B · observed estimates

Exact estimates & source dates

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$1.14	$2,074,999,531	8 / 12
2026-07-25	$1.15	$2,074,999,530	12 / 15
2026-07-26	$1.14	$2,074,999,531	8 / 12
2026-07-27	$1.15	$2,074,999,530	12 / 15
2026-07-28	$1.14	$2,074,999,531	8 / 12
2026-07-29	$1.15	$2,074,999,530	12 / 15
2026-07-30	$1.15	$2,074,999,530	12 / 15
2026-07-31	$1.15	$2,074,999,530	12 / 15
2026-08-01	$1.14	$2,074,999,531	8 / 12
2026-08-02	$1.15	$2,074,999,530	12 / 15
2026-08-03	$1.15	$2,074,999,530	12 / 15
2026-08-04	$1.15	$2,074,999,530	12 / 15
2026-08-05	$1.14	$2,075,000,918	8 / 12
2026-08-06	$1.14	$2,075,000,918	8 / 12
2026-08-08	$1.20	$2,110,796,392	8 / 12
2026-08-09	$1.20	$2,110,796,392	8 / 12
2026-08-10	$1.20	$2,110,796,392	8 / 12
2026-08-12	$1.21	$2,110,796,390	13 / 15
2026-08-13	$1.20	$2,110,796,392	8 / 12
2026-08-14	$1.20	$2,110,796,392	8 / 12
2026-08-15	$1.20	$2,110,796,392	8 / 12
2026-08-16	$1.20	$2,110,796,392	8 / 12
2026-08-17	$1.20	$2,110,796,392	8 / 12
2026-08-18	$1.20	$2,110,796,392	8 / 12
2026-08-19	$1.20	$2,110,796,392	8 / 12
2026-08-20	$1.20	$2,111,186,862	8 / 12
2026-08-21	$1.20	$2,111,186,862	8 / 12
2026-08-22	$1.20	$2,111,186,862	8 / 12
2026-08-23	$1.20	$2,111,186,862	8 / 12
2026-08-24	$1.20	$2,111,186,862	8 / 12
2026-08-25	$1.20	$2,111,188,665	8 / 12
2026-08-26	$1.20	$2,111,188,665	8 / 12
2026-08-27	$1.20	$2,111,188,665	8 / 12
2026-08-28	$1.20	$2,111,188,665	8 / 12
2026-08-29	$1.20	$2,111,188,665	8 / 12
2026-08-30	$1.20	$2,111,188,665	8 / 12
2026-08-31	$1.20	$2,111,188,665	8 / 12
2026-09-01	$1.20	$2,111,188,665	8 / 12
2026-09-02	$1.20	$2,111,188,665	8 / 12
2026-09-03	$1.20	$2,111,188,665	8 / 12
2026-09-04	$1.20	$2,111,188,665	8 / 12
2026-09-05	$1.20	$2,111,188,665	8 / 12
2026-09-06	$1.20	$2,111,188,665	8 / 12
2026-09-07	$1.20	$2,111,188,665	8 / 12
2026-09-08	$1.20	$2,111,188,665	8 / 12
2026-09-09	$1.20	$2,111,188,665	8 / 12
2026-09-10	$1.20	$2,111,188,665	8 / 12
2026-09-11	$1.20	$2,111,188,665	8 / 12
2026-09-12	$1.20	$2,111,188,665	8 / 12
2026-09-13	$1.20	$2,111,188,665	8 / 12
2026-09-14	$1.20	$2,111,188,665	8 / 12
2026-09-15	$1.20	$2,111,188,665	8 / 12
2026-09-16	$1.20	$2,111,188,665	8 / 12
2026-09-17	$1.20	$2,111,188,665	8 / 12
2026-09-18	$1.20	$2,111,188,665	8 / 12
2026-09-19	$1.20	$2,111,188,665	8 / 12
2026-09-20	$1.20	$2,111,188,665	8 / 12
2026-09-21	$1.20	$2,111,188,665	8 / 12
2026-09-22	$1.20	$2,111,188,665	8 / 12
2026-09-23	$1.20	$2,111,188,665	8 / 12
2026-09-24	$1.20	$2,111,188,665	8 / 12
2026-09-25	$1.20	$2,111,188,665	8 / 12
2026-09-26	$1.20	$2,111,188,665	8 / 12
2026-09-27	$1.20	$2,111,188,665	8 / 12
2026-09-28	$1.20	$2,111,188,665	8 / 12
2026-09-29	$1.20	$2,111,188,665	8 / 12
2026-09-30	$1.20	$2,111,188,665	8 / 12
2026-10-01	$1.20	$2,111,188,665	8 / 12
2026-10-02	$1.20	$2,111,188,665	8 / 12
2026-10-03	$1.20	$2,111,188,665	8 / 12
2026-10-04	$1.20	$2,111,188,665	8 / 12
2026-10-05	$1.20	$2,111,188,665	8 / 12
2026-10-06	$1.20	$2,111,188,665	8 / 12
2026-10-07	$1.20	$2,111,183,392	8 / 12
2026-10-08	$1.20	$2,111,183,392	8 / 11
2026-10-09	$1.20	$2,111,183,392	8 / 11
2026-10-10	$1.20	$2,111,625,589	8 / 12
2026-10-11	$1.20	$2,111,625,589	8 / 12
2026-10-12	$1.20	$2,111,625,589	8 / 12
2026-10-13	$1.20	$2,111,625,589	8 / 12
2026-10-14	$1.20	$2,111,625,589	8 / 12
2026-10-15	$1.20	$2,111,625,589	8 / 12
2026-10-16	$1.20	$2,111,625,589	8 / 12
2026-10-17	$1.20	$2,111,625,589	8 / 12
2026-10-18	$1.20	$2,112,956,788	8 / 12
2026-10-19	$1.20	$2,112,956,788	8 / 12
2026-10-20	$1.20	$2,112,956,788	8 / 12
2026-10-21	$1.20	$2,112,956,788	8 / 12
2026-10-22	$1.20	$2,112,956,788	8 / 12
2026-10-23	$1.20	$2,112,956,788	8 / 12
2026-10-24	$1.20	$2,112,956,788	8 / 12

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings