Zeta Global Holdings Corp. (NYSE: ZETA) shares climbed sharply in the Christmas Eve session, extending a late-December rebound as investors continued to price in the company’s expanded 2025–2026 outlook following its Marigold enterprise acquisition and a run of “beat-and-raise” execution. As of roughly midday New York time on December 24, 2025, ZETA traded near $19.15, up about 4.36% on the day after opening at $19.01, with an intraday range of roughly $18.36 to $19.39 on about 4.0 million shares of volume.
The move is landing in a shortened U.S. trading session—a detail that matters more than most people think. Both the NYSE and Nasdaq schedule an early close at 1:00 p.m. ET on Dec. 24, 2025, which can compress liquidity and make gaps and momentum look “louder” than they would on a normal day. [1]
What’s driving Zeta Global stock today
There wasn’t a single, company-issued headline dated Dec. 24 that clearly explains the entire jump. Instead, ZETA’s move appears to be the kind of holiday session repricing you get when (1) the tape is thin, (2) investors rotate into higher-beta software names, and (3) a stock already has a compelling narrative catalyst stack.
A few datapoints stood out in today’s flow:
- Gap-up open: ZETA opened materially above the prior close, consistent with the “gap-up” framing seen across market scanners tracking the name. [2]
- Options activity: Zeta Global was listed among the day’s “unusually active option classes” in early trading notes, a sign that derivatives volume was running hot relative to normal. Unusual options volume doesn’t automatically mean “smart money knows something,” but it does often amplify intraday moves when liquidity is scarce. [3]
Meanwhile, the broader U.S. market backdrop on Christmas Eve was constructive, with major indexes hovering near record levels during the early-close session—another tailwind for risk-on moves in individual growth equities. [4]
The fundamental backdrop: Marigold acquisition and a higher 2026 bar
The core strategic story investors keep coming back to is Zeta’s push to become a “platform of platforms” for enterprise marketing—combining identity, data, AI decisioning, and omnichannel execution, then widening the moat via acquisitions.
The biggest recent step: Zeta’s completion of its acquisition of Marigold’s enterprise software business and the immediate raise to 2025 and 2026 guidance.
In its November 24, 2025 announcement, Zeta said it completed the deal for aggregate consideration of up to $325 million, covering Marigold enterprise assets including Marigold Loyalty, Cheetah Digital, Selligent, Sailthru, Liveclicker, and Grow. The company detailed the consideration mix (cash, newly issued shares, and seller notes payable within three months of close). [5]
More importantly for stock investors, management used the deal close to reset the forward model:
- FY 2025 revenue guidance: raised to $1.289B–$1.292B (including a Marigold contribution in the numbers disclosed). [6]
- FY 2026 revenue guidance: raised to at least $1.730B, including at least $190M from Marigold enterprise software business, alongside updated EBITDA and free cash flow expectations. [7]
In plain English: the market isn’t just trading Zeta on “AI marketing cloud vibes.” It’s increasingly trading Zeta on whether it can integrate Marigold smoothly, cross-sell into a larger base, and turn revenue growth into durable free cash flow.
Operational momentum: Holiday platform metrics gave the narrative fresh fuel
One reason the story has stayed “alive” into late December is that Zeta has continued publishing performance proof points tied to high-stakes enterprise use cases.
On December 3, 2025, Zeta reported holiday shopping weekend platform results including:
- Platform usage up 153% year-over-year
- AI agent activity up 25x year-over-year
- 100% uptime
- Enterprises using Zeta’s AI Agents reporting 87% time savings on repetitive tasks [8]
These are company-provided metrics (so investors should treat them as marketing-adjacent and ask how they translate into retention, expansion, and margins), but they help explain why many traders still view dips in ZETA as buyable: the company is trying to show that “agentic AI” is not a demo—it’s production software doing real work at scale.
ZETA stock forecast: What analysts are projecting now
On the Street, Zeta Global remains a stock where the direction of analyst sentiment has generally been constructive, but the details vary by coverage universe.
MarketBeat’s consensus snapshot (as cited widely in trading writeups today) characterizes ZETA as a “Moderate Buy”, with an average 12‑month price target around $27.25 and targets ranging from $18 on the low end to $36 on the high end. [9]
That target math is why ZETA can attract momentum when it starts moving: with the stock around the high teens, it doesn’t take heroic assumptions to argue for meaningful upside—if Zeta hits the integration and cash flow milestones embedded in its own guidance framework.
A practical way to read this: analysts are not pricing Zeta like a “slow and safe” enterprise software name. They’re pricing it like a growth platform that must keep executing quarter after quarter—especially as the company absorbs Marigold.
Insider selling and short interest: two signals investors are watching closely
Today’s coverage also put two sentiment-sensitive datapoints back in focus:
1) Insider selling (confirmed SEC filing).
A Form 4 filed with the SEC shows director Jeanine Silberblatt sold 12,990 shares on December 12, 2025 at a weighted average price of $19.3368 (with sales executed in a range disclosed in the filing). [10]
Insider sales can mean many things (taxes, diversification, scheduled plans), but traders tend to notice them more when a stock is trying to reclaim prior highs.
2) Short interest remains elevated.
MarketBeat’s short-interest data lists roughly 24.11 million shares sold short as of the Nov. 28, 2025 settlement date—about 11.52% of the float, with days-to-cover around 3.8. [11]
That’s not “meme-stock” territory, but it’s high enough that strong up-days can spark position covering—especially in thin sessions like Christmas Eve.
Technical analysis: key levels traders are likely mapping
Technical writeups circulating today leaned into a familiar theme: support being tested, with resistance overhead.
One widely shared technical note pegged multiple “signal” levels and framed the setup as a strong near-term sentiment with a more neutral mid/longer-term posture—essentially arguing that if support holds, the next test becomes resistance in the low $20s. [12]
It’s worth treating any single technical model as one lens, not a verdict. But when a stock gaps up, the technical battle often becomes straightforward: can it hold the gap into the close, or does it fade back toward the prior day’s range?
Near-term catalysts: CES 2026 visibility and the next earnings checkpoint
Two calendar items are on many Zeta-watchers’ radar heading into early 2026:
CES 2026 marketing and “Athena by Zeta” spotlight.
Zeta has positioned CES as a visibility moment for Athena by Zeta, describing it as a conversational, “superintelligent agent” for enterprise marketing, and announcing CES programming including a fireside chat scheduled for January 6, 2026 in Las Vegas. [13]
Next earnings timing is still fuzzy—expect late February, but confirm.
Multiple market calendars estimate Zeta’s next earnings report in late February 2026 (with some sources clustering around Feb. 24, 2026). However, dates can shift, and not all listings reflect company-confirmed scheduling. [14]
The bull case vs. bear case for Zeta Global stock
The most honest way to frame ZETA into year-end is that it’s a stock with a clean debate:
Why bulls stay interested
- Raised outlook after Marigold suggests management sees an expanded runway and stronger economics. [15]
- Holiday-period metrics are designed to demonstrate real-world AI productivity and reliability at scale. [16]
- Zeta has an authorized stock repurchase and withholding program of up to $200 million, which can provide structural demand over time (though it’s discretionary, not guaranteed). [17]
What bears focus on
- Integration risk: acquisitions can dilute focus, delay execution, or introduce churn if customers don’t transition cleanly. [18]
- Profit quality: Zeta highlights free cash flow, but investors still scrutinize GAAP profitability, stock-based comp, and whether margin expansion persists through a cycle. [19]
- Short interest suggests a meaningful cohort is betting the market is overestimating the speed (or durability) of the growth story. [20]
Bottom line
On December 24, 2025, Zeta Global stock is acting like what it is: a growth platform story with a big integration catalyst (Marigold), a loud AI narrative (Athena and agentic automation), and enough short interest and options activity to make price action pop—especially in a half-day holiday session.
The next durable move in ZETA will likely depend less on one-day momentum and more on whether management can keep delivering against its higher guidance bar—while proving that Marigold expands the business without compromising execution.
References
1. www.nyse.com, 2. www.marketbeat.com, 3. www.tipranks.com, 4. www.reuters.com, 5. investors.zetaglobal.com, 6. investors.zetaglobal.com, 7. investors.zetaglobal.com, 8. www.nasdaq.com, 9. www.marketbeat.com, 10. www.sec.gov, 11. www.marketbeat.com, 12. news.stocktradersdaily.com, 13. investors.zetaglobal.com, 14. www.marketbeat.com, 15. investors.zetaglobal.com, 16. www.nasdaq.com, 17. investors.zetaglobal.com, 18. investors.zetaglobal.com, 19. investors.zetaglobal.com, 20. www.marketbeat.com
