Zeta Global Holdings (ZETA) is likely to deliver strong Q1 results based on peer results and channel checks, RBC Capital Markets said in a Sunday note.
RBC analysts said checks showed advertising and marketing budgets remain healthy in Q1 with significant uncertainty in the outlook amid an uncertain macro environment.
"We continue to expect the ROI focused model to be more
resilient to macro headwinds, but not immune if we start to see further declines in advertising and marketing spend," they said.
The analysts said Zeta would perform better than ad-tech and use-case peers in the next 12 months, expecting the platform to benefit from data revolution.
RBC kept its outperform rating while lowering its price target to $30 from $40 on peer multiple contraction.
Price: 13.13, Change: -0.01, Percent Change: -0.08
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