NEW YORK, Dec. 28, 2025, 2:20 a.m. ET — Market closed (Weekend)
Zeta Global Holdings Corp. (NYSE: ZETA) heads into the final week of 2025 with fresh momentum after a sharp Friday rally that stood out in an otherwise quiet, post-holiday U.S. session. Shares finished Friday, Dec. 26 at $20.70, up 8.32% on the day, after trading between roughly $18.86 and $20.71. Volume reached about 10.19 million shares, well above what investors typically expect in year-end, liquidity-thin conditions. [1]
With U.S. equity markets closed for the weekend, investors now have a classic “pause-and-prepare” setup: a stock showing unusually strong short-term price action, paired with an options tape that suggests positioning (not just fundamentals) may be influencing near-term moves. [2]
Friday’s ZETA move: big price action, even bigger options attention
The most notable Zeta headline in the last 24–48 hours wasn’t a new product launch or an SEC filing—it was the trading itself.
On Friday, options activity in ZETA spiked, with Nasdaq reporting 26,546 contracts traded—equivalent to roughly 2.7 million shares of exposure, or about 60% of Zeta’s average daily share volume over the past month (per Nasdaq’s calculations). The busiest line cited was the $20 strike call expiring Jan. 16, 2026, with 2,362 contracts traded. [3]
That kind of options footprint matters because it can change the market’s micro-dynamics. When call activity concentrates around a nearby strike, it can (in some circumstances) amplify price moves as liquidity providers hedge exposure—especially in periods when broader market volume is muted around the holidays.
Trefis, in analysis published within the past day, framed Friday’s surge as potentially influenced by options-expiration-related mechanics, noting the rally appeared to arrive on a “quiet news day” rather than on a fresh corporate catalyst. [4]
The wider market backdrop: a thin, year-end tape can exaggerate single-stock moves
Zeta’s jump landed during a session where the broader U.S. market offered limited direction. Reuters described Friday as a light-volume, post-Christmas session with major indexes finishing marginally lower as investors “caught their breath” after a multi-day run—an environment where idiosyncratic moves can look larger than they might in a fully staffed, fully liquid week. [5]
This matters for ZETA because the stock is trading into the “Santa Claus rally” window that many strategists track (the last five trading days of December and first two of January). Whether you consider that seasonality signal meaningful or market folklore, it’s one more reason liquidity and positioning can dominate headlines late in December. [6]
Fundamentals still matter: what investors are anchoring to beyond the tape
Even if the last 24–48 hours were dominated by market mechanics, Zeta’s medium-term narrative remains tied to a few concrete corporate pillars:
1) Raised guidance tied to the Marigold deal
Zeta has previously said it increased 2025 and 2026 guidance following completion of its acquisition of Marigold’s enterprise software business. In that update, the company lifted full-year 2025 revenue guidance to $1.289–$1.292 billion and adjusted EBITDA guidance to $274.2–$275.1 million, among other figures, while also giving a higher bar for 2026 revenue (at least $1.73 billion) that includes contribution from the acquired business. [7]
This guidance set is a key anchor for longer-horizon investors trying to decide whether Zeta’s latest push is “just year-end tape” or a move that can hold into 2026.
2) AI messaging and holiday performance claims
In a December company release focused on holiday performance and AI usage, CEO David A. Steinberg said: “Holiday 2025 is an inflection point for the industry—AI isn’t just assisting marketers, it is running the playbook.” [8]
Zeta positioned that update around AI-driven marketing execution and platform activity during peak retail season—an angle that can resonate when equity markets are paying a premium for “AI with proof of workflow,” not just AI branding.
3) What Zeta actually does (the simple version)
For readers newer to the name: Zeta describes itself as an omnichannel, data-driven marketing platform that helps enterprises target and engage consumers across channels (email, web, connected TV, and more). [9]
Analyst forecasts: targets cluster in the high-$20s, with a wide range
Wall Street’s price-target picture for ZETA is constructive—but not unanimous—and the dispersion matters.
- MarketWatch lists an average target price around $29.67 and 14 ratings on the name. [10]
- MarketBeat’s summary shows a $27.25 average target with a $36 high / $18 low range, based on its tracked analyst set. [11]
- TipRanks posts an average target of $29.09, with a wider high/low band displayed on its platform. [12]
Using Friday’s close near $20.70, those average targets imply roughly 30%–45% upside (depending on which dataset you reference), but the spread between low and high targets underscores the debate: how much of Zeta’s growth is durable and high-quality versus how much is sensitive to marketing budgets, competition, and integration execution.
No new company press releases in the last 48 hours — so what’s “new” heading into Monday?
For the weekend window specifically: Zeta’s investor relations news page does not show a fresh company press release dated within the last day or two (the most recent visible item is mid-December). [13]
So the actionable “new” inputs for Monday are primarily market-facing:
- How futures re-open and risk appetite looks going into the last trading days of the year
- Whether options-driven positioning unwinds or extends after Friday’s burst
- Whether ZETA holds above the psychologically important ~$20 zone, where options activity was notably concentrated [14]
What investors should know before the next session
Because the market is closed right now, the most useful prep is understanding when signals return and what can move the stock early.
1) Watch the first risk signal: index futures (Sunday evening)
Equity index futures trading on CME Globex typically runs Sunday 6:00 p.m. ET through Friday 5:00 p.m. ET (with standard breaks). That reopening can shape Monday’s tone for high-beta and momentum names. [15]
2) Know the real extended-hours windows (and their pitfalls)
If you trade ZETA outside the 9:30–4:00 regular session, be aware that:
- Nasdaq notes pre-market trading typically runs 4:00–9:30 a.m. ET, and after-hours runs 4:00–8:00 p.m. ET, with a direct warning that these sessions can have less liquidity and more volatile pricing, and that limit orders may be prudent. [16]
- NYSE Arca’s market structure also reflects an early session starting at 4:00 a.m. ET and extended trading to 8:00 p.m. ET. [17]
Given how much ZETA’s latest move appears tied to positioning and trading flows, the “thin liquidity” risk is not theoretical—it’s exactly where prices can gap.
3) Don’t lose track of the calendar: year-end market structure matters
As the market heads into the final days of 2025, traders should remember the schedule: Investopedia reports a full trading day on New Year’s Eve (Dec. 31) for stocks, with markets closed on New Year’s Day (Jan. 1, 2026). [18]
That kind of calendar compression can change behavior—portfolio rebalancing, tax positioning, and reduced staffing can all impact liquidity.
4) Upcoming catalysts to keep on the radar
Two forward-looking items that could re-enter the conversation in coming weeks:
- CES 2026 visibility: Zeta announced CES programming that includes a fireside chat featuring Dan Ives and Zeta CEO David A. Steinberg, centered on “Athena by Zeta.” [19]
- Next earnings window: Third-party earnings calendars generally point to late February 2026 as the expected timing for the next report (listed as expected Feb. 24, 2026 by Zacks and estimated similarly by MarketBeat), though investors should treat calendar dates as provisional until the company confirms. [20]
The setup for Monday: momentum vs. mechanics
Zeta Global stock enters Monday’s session with a clean headline: a big up-day, heavy options interest, and no immediate company-specific news explaining the move. That combination can cut two ways:
- Momentum traders may view it as confirmation that ZETA is “in play” into year-end.
- Fundamental investors may wait for confirmation that the move holds once holiday liquidity fades and positioning resets.
Either way, Monday’s early read is likely to come from futures direction, pre-market liquidity, and whether the $20 area (where options activity was conspicuously active) continues to act as a magnet—or becomes a ceiling. [21]
References
1. www.investing.com, 2. www.nasdaq.com, 3. www.nasdaq.com, 4. www.trefis.com, 5. www.reuters.com, 6. www.reuters.com, 7. investors.zetaglobal.com, 8. zetaglobal.com, 9. www.reuters.com, 10. www.marketwatch.com, 11. www.marketbeat.com, 12. www.tipranks.com, 13. investors.zetaglobal.com, 14. www.nasdaq.com, 15. www.cmegroup.com, 16. www.nasdaq.com, 17. www.nyse.com, 18. www.investopedia.com, 19. investors.zetaglobal.com, 20. www.zacks.com, 21. www.nasdaq.com
