• Zeta Global (NYSE:ZETA) released what it is calling a "detailed" rebuttal in response to the short report from investment firm Culpert Research earlier this month.
• Shares jumped more than 9% in late afternoon trading.
• The 15-slide rebuttal, listed on the company's investor relations website, gives further detail on the company's data cloud and notes that it correctly accounts for its revenue, among other topics.
• “The self-serving ‘report’ was filled with highly misleading and objectively false claims about Zeta and was written with a clear agenda: to drive down the value of our stock for the benefit of the author and the people betting against us,” David Steinberg, Co-Founder, Chairman, and CEO of Zeta, said in a statement. “We, along with our external legal counsel, thoroughly reviewed its spurious allegations, and as we detail extensively in our rebuttal, the facts could not be clearer: our data gathering and management, privacy policies and practices, and financial reporting comply with relevant law and advance our mission of delivering value for our clients and generating shareholder value."
• Separately on Wednesday, research firm Canaccord Genuity raised its price target on the marketing software company, noting it has become more comfortable with the company as more information has come out.

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