NEW YORK, Dec. 27, 2025, 6:47 p.m. ET — Market closed.
Zeta Global Holdings Corp. (NYSE: ZETA) heads into the weekend with renewed momentum after a sharp post-holiday rally that pushed shares back above the closely watched $20 level. On Friday, Dec. 26, ZETA closed around $20.68, up about 8% on the day, and edged modestly higher in extended trading to roughly $20.73. [1]
The move stood out in a market session defined by thin, post-Christmas participation. Wall Street finished nearly unchanged in light volume, with the Dow, S&P 500 and Nasdaq all down slightly on the day, according to Reuters’ market wrap. [2]
ZETA stock recap: a sharp Friday move into the close — and a higher after-hours print
Market data tracked by MarketBeat showed Zeta Global’s closing price at $20.68 at 3:59 p.m. ET, followed by an extended-hours indication near $20.73 at 7:59 p.m. ET. [3]
Volume also accelerated versus typical holiday-week trading. MarketBeat’s short-interest dashboard listed “today’s trading volume” at roughly 10.1 million shares versus an average near 4.2 million shares (about 2.4x typical activity). [4]
What’s behind the move: options volume spikes as $20 calls draw attention
One of the clearest data points from Friday’s tape was unusually heavy options turnover. Nasdaq reported that Zeta Global saw options trading volume of 26,546 contracts — representing about 2.7 million shares of notional exposure — and flagged particularly high volume in the $20 strike call expiring Jan. 16, 2026 (2,362 contracts). [5]
In plain terms: when call-option activity clusters around a key strike like $20, it can sometimes coincide with fast, “mechanical” price moves — especially in holiday-thinned liquidity — as market makers and other participants adjust hedges. That doesn’t guarantee follow-through, but it helps explain why ZETA’s rally drew attention even without a headline catalyst moving across terminals in real time.
Trefis commentary published on Dec. 27 also framed the latest surge as taking place on what looked like a “quiet news day,” with the action potentially amplified by options-related dynamics. [6]
Fresh analysis in the last 24–48 hours: “fairly priced” vs. headline-driven momentum
Among the newest writeups, a Dec. 27 Trefis note characterized Zeta Global as showing “very strong” growth and “very strong” financial stability, but “very weak” profitability — concluding the stock looked “fairly priced” given a high valuation backdrop. The same analysis highlighted growth rates it tracks for Zeta, alongside margin and cash-flow observations. [7]
Another Dec. 27 Trefis post broadened the lens beyond Friday’s single-session pop, pointing to a 6-day winning streak that it said totaled roughly 19% in cumulative gains, while attributing the rally backdrop to catalysts including strong revenue guidance and the company’s holiday-period platform performance claims. [8]
Wall Street forecasts: “Moderate Buy” consensus and a $27.25 average target
On the Street’s longer-range outlook, MarketBeat’s consensus snapshot for Zeta Global shows a “Moderate Buy” rating based on 14 analysts, with 9 Buys, 4 Holds, and 1 Sell. The same dataset lists an average 12‑month price target of $27.25 (with a reported high target of $36 and low target of $18). [9]
MarketBeat’s Dec. 26 trading note also summarized a recent run of target and rating actions from multiple firms, including:
- B. Riley raising its target to $30 with a “buy” rating (as reported by MarketBeat)
- Morgan Stanley lifting its target to $23 with an “equal weight” rating (as reported by MarketBeat)
- Canaccord Genuity raising its target to $30 with a “buy” rating (as reported by MarketBeat)
- UBS setting a $29 price objective (as reported by MarketBeat) [10]
For investors looking for named analysts (not just firm labels), Zeta Global’s own analyst coverage list includes: Barclays’ Ryan MacWilliams, BofA Securities’ Koji Ikeda, B. Riley’s Zach Cummins, Canaccord Genuity’s David Hynes, Craig-Hallum’s Jason Kreyer, DA Davidson’s Clark Wright, Morgan Stanley’s Elizabeth Porter, Needham & Co’s Ryan MacDonald, Oppenheimer’s Brian Schwartz, Roth Capital’s Richard Baldry, and William Blair’s Arjun Bhatia. [11]
Company fundamentals investors are still keying on: Marigold integration and raised guidance
While the last 24–48 hours of headlines were dominated by market/flow narratives (options activity and the sharp move), Zeta Global’s broader fundamental story remains anchored to its Marigold enterprise software business acquisition and subsequent guidance update.
In a Nov. 24 company release, Zeta said it increased 2025 and 2026 guidance following completion of the Marigold acquisition, including (among other items) full-year 2025 revenue guidance of $1.289 billion to $1.292 billion and adjusted EBITDA guidance of $274.2 million to $275.1 million, as well as 2026 revenue guidance “at least” $1.73 billion and adjusted EBITDA of $385.4 million. [12]
That guidance update was also referenced in the company’s Nov. 24 Form 8‑K, which describes the closing of the Marigold Enterprise Business acquisition and incorporates the related press release as an exhibit. [13]
Separately, Reuters’ company profile describes Zeta Global as operating an omnichannel, data-driven cloud platform providing consumer intelligence and marketing automation, including its AI-powered Zeta Marketing Platform (ZMP). [14]
CES 2026 and “Athena”: a near-term narrative catalyst investors may reprice quickly
Even though it’s not a “last 48 hours” headline, one of the next scheduled moments that can re-ignite attention is CES 2026 in early January.
In a Dec. 15 announcement, Zeta said it will host CES programming around “Athena by Zeta,” and that technology analyst Dan Ives (Chairman of Eightco) would join Zeta co-founder and CEO David A. Steinberg for a fireside chat on Jan. 6 in Las Vegas. The release also included on-the-record quotes from Steinberg and Ives about the pace of AI innovation and enterprise outcomes. [15]
With markets closed over the weekend, CES-related anticipation can matter because it’s the type of “story” catalyst that can shift positioning quickly when liquidity is thin — especially for a stock that just attracted elevated options interest.
If markets are closed, what should ZETA investors know before the next session?
U.S. stock markets reopen Monday, Dec. 29, with the NYSE core trading session running from 9:30 a.m. to 4:00 p.m. ET (and NYSE late trading sessions listed through 8:00 p.m. ET for eligible venues). [16]
Here are the practical items to watch before Monday’s open:
- Watch the $20 zone and related options positioning. Friday’s Nasdaq options data singled out heavy activity in $20 calls. That can make the $20 area a natural battleground for short-term positioning as traders manage risk into the next session. [17]
- Expect volatility to remain elevated if volume stays above normal. MarketBeat’s data showed Friday trading volume running well above average, which can cut both ways: it can confirm demand, but it can also reflect short-term flow-driven churn. [18]
- Short interest is meaningful enough to amplify moves. As of Dec. 15, MarketBeat reported short interest of about 22.88 million shares, roughly 10.94% of float, with around 5 days to cover — a setup that can accentuate rallies and pullbacks when momentum accelerates. [19]
- Separate “flow” from “fundamentals.” Recent coverage has leaned heavily on options/holiday-liquidity explanations, while the longer-term thesis still hinges on execution against raised guidance and integration of Marigold’s enterprise assets. [20]
- Earnings timing is approaching — but calendars differ. MarketBeat lists Zeta’s next earnings date as estimated for Tuesday, Feb. 24, 2026 (after market close). [21] TipRanks lists an upcoming report date of Feb. 19, 2026 (also after close). [22] With discrepancies like this, traders often treat “late February” as the actionable window until the company formally confirms timing.
Bottom line
Zeta Global stock enters the weekend with momentum: a sharp Friday gain, higher-than-normal volume, and a clear spike in options activity — especially around $20 calls — all against the backdrop of an otherwise quiet, low-volume post-holiday market session. [23]
For Monday’s open, the key question isn’t just whether ZETA holds above $20 — it’s whether buyers return once holiday liquidity normalizes, or whether Friday’s move fades as options-related positioning resets. Longer-term, Wall Street’s “Moderate Buy” consensus and ~$27 average target frame the upside debate, while execution on raised guidance and integration progress remain the fundamentals that can ultimately validate (or challenge) the rally. [24]
References
1. www.marketbeat.com, 2. www.reuters.com, 3. www.marketbeat.com, 4. www.marketbeat.com, 5. www.nasdaq.com, 6. www.trefis.com, 7. www.trefis.com, 8. www.trefis.com, 9. www.marketbeat.com, 10. www.marketbeat.com, 11. investors.zetaglobal.com, 12. investors.zetaglobal.com, 13. www.sec.gov, 14. www.reuters.com, 15. investors.zetaglobal.com, 16. www.nyse.com, 17. www.nasdaq.com, 18. www.marketbeat.com, 19. www.marketbeat.com, 20. investors.zetaglobal.com, 21. www.marketbeat.com, 22. www.tipranks.com, 23. www.reuters.com, 24. www.marketbeat.com
