Needham Reiterates Buy Rating on Zeta Global Holdings Corp (ZETA)

Needham analyst Scott Berg reiterated a Buy rating and $25.00 price target on Zeta Global Holdings Corp (NYSE: ZETA).

The analyst commented: "We are updating our 4Q25 and FY26 estimates to reflect Zeta's recent Marigold acquisition that just closed. The financial impact is as expected with FY26 revenues of $190mm with marginally dilutive Adj. EBITDA margins. We note the Marigold guidance suggests the Marigold unit will report a 4Q25 Adj. EBITDA of 6.3% with a 1Q26 margin of 8.4% and a FY26 margin of 16.5% versus the company's current ~20% Adj. EBITDA margin over the past five quarters. We are modeling the Marigold acquisition to be accretive for Adj. EBITDA in 4Q26 once expected cost synergies are extracted in 1H and fully realized in 2H26. We note the Marigold guidance does reflect some lost revenues from its SMB customers the Zeta management expects to churn over time."

For an analyst ratings summary and ratings history on Zeta Global Holdings Corp click here. For more ratings news on Zeta Global Holdings Corp click here.

Shares of Zeta Global Holdings Corp closed at $17.48 yesterday.

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