Abstract

Zeta Global Holdings Corp. will report its quarterly results on November 09, 2026 after-market (Post-Mkt), and this preview compiles consensus expectations, recent financial trends, and the main catalysts to watch for the upcoming print.

Market Forecast

Consensus for the current quarter points to revenue of 470.86 million US dollars, up 43.52% year over year, with adjusted EPS of 0.28, up 51.65%, and EBIT of 92.33 million US dollars, up 74.92%. While a gross margin forecast is not disclosed, the market’s revenue and EBIT mix implies continued improvement in profitability relative to last year’s baseline, anchored by scale and mix within the platform model. The core platform remains the principal revenue engine with last quarter’s 442.77 million US dollars up 43.55% year over year, and the outlook centers on sustained client adoption and cross-product utilization. The most promising area remains the platform-led revenue stream, with Platform Direct Revenue of 318.79 million US dollars last quarter and total company growth of 43.55% year over year setting a high bar for continued expansion.

Last Quarter Review

Zeta Global Holdings Corp. delivered last quarter revenue of 442.77 million US dollars, a gross profit margin of 59.12%, GAAP net profit attributable to the parent company of 8.17 million US dollars, a net profit margin of 1.85%, and adjusted EPS of 0.25, up 78.57% year over year. A notable financial highlight was the quarter-on-quarter rebound in GAAP net profit, which increased by 161.70%, reflecting operating efficiency and scaling effects through the platform. Main business highlights: platform revenues totaled 442.77 million US dollars, up 43.55% year over year, comprised of Platform Direct Revenue at 318.79 million US dollars (72% of total) and Platform Integrated Revenue at 123.97 million US dollars (28% of total).

Current Quarter Outlook

Main business trajectory and execution

Revenue momentum is expected to persist, with the company entering the quarter guided by consensus for 470.86 million US dollars, implying a 43.52% year-over-year increase. The last reported gross margin of 59.12% creates a constructive baseline, and EBIT growth that outpaces revenue in the forecast (74.92% year over year vs. revenue at 43.52%) points toward incremental operating leverage in the model. Management previously communicated higher full-year revenue guidance ranges in mid-year updates, and consensus presently sits well-aligned with those ambitions for the current quarter’s scale. Within the platform, utilization expansion and cross-sell remain central to the revenue build. Client adoption of new capabilities, combined with a unified data and activation architecture, is supporting broader use cases across accounts. The mix of Platform Direct and Platform Integrated revenues provides flexibility to meet varying customer deployment preferences and spending patterns; last quarter, direct revenues represented 72% of total, anchoring visibility into the demand pattern heading into the print. Operationally, attention will be on whether the company can maintain a high-50s gross margin while delivering the forecast step-up in EBIT. Given last quarter’s net profit margin of 1.85% and the forecasted EBIT growth rate, any evidence of expense discipline and stable unit economics could reinforce the profitability narrative. Investors will likely parse commentary for the durability of expansion drivers across the base, including the pace of large-account deployments and cycle times to value realization within newly onboarded customers.

Most promising business vectors and expanding opportunity set

The most visible growth vector remains the platform-centric revenue streams, with Platform Direct Revenue at 318.79 million US dollars last quarter and overall company growth of 43.55% year over year. This emphasizes the degree to which customers are consolidating spend onto the core platform, enabling a larger attach rate of complementary modules. From a financial lens, it suggests the company is converting adoption gains into revenue consistency, which is reflected in the consensus trajectory for this quarter. Recent product and ecosystem moves are designed to broaden the company’s opportunity set. New enterprise capabilities and agentic tools have been introduced to simplify workflows, integrate knowledge, and enhance activation, which management and third-party observers have described as catalysts for deeper customer usage. Acquisitions focused on data infrastructure and identity are intended to strengthen connectivity and measurement across channels, while expanding geographic reach and strengthening capabilities. These moves are about increasing the addressable use cases within accounts and compressing time-to-value; as those deployments mature, the monetization potential scales with customer outcomes. This quarter, investors are likely to look for quantitative signals that these initiatives are translating to revenue and margin continuity. Examples include the share of revenue from expanded modules, conversion of pilot programs to broader rollouts, and the revenue contribution from recent product introductions or integrations. With the forecast calling for EBIT growth meaningfully above revenue growth, the pathway to higher returns should be reinforced if the company demonstrates improved sales productivity and retention efficiencies alongside broader adoption.

Factors most likely to influence the stock in this print

The stock’s immediate reaction will likely depend on the balance of revenue growth, profitability trajectory, and commentary about the scalability of recently launched capabilities. Delivering or exceeding the 470.86 million US dollars revenue consensus and 0.28 adjusted EPS benchmark would validate the market’s assumptions around momentum, while any clarity on sustained gross margin around the prior quarter’s 59.12% would support the improving return profile implied by the forecast. EBIT performance will also be a focal point; meeting or exceeding the 92.33 million US dollars forecast could reinforce confidence in the efficiency narrative. Execution updates on integration efforts and enterprise deployments will be closely watched. Investors will parse for evidence of enhanced deal velocity, expansion within existing customers, and the breadth of use cases supported by new tooling. The net impact on working capital and operating expenses from recent partnerships and acquisitions will also be scrutinized, as the company’s path to higher net margins depends not only on revenue growth but also on disciplined scaling. Finally, color on the demand environment within the company’s customer base can move the shares, especially if management signals steady or improving budget allocations for data, identity, and activation solutions within the platform model. Last quarter’s net profit turning positive and rising quarter on quarter by 161.70% set a constructive tone; sustaining that inflection with this quarter’s print would elevate confidence in the multi-quarter cadence implied by consensus.

Analyst Opinions

The balance of published opinions skews decisively bullish, with multiple institutions maintaining Buy or Outperform ratings and raising price targets, and no notable Sell calls in the recent period; the majority view is therefore bullish. RBC Capital maintains an Outperform view and increased its price target to 40 US dollars, noting strengthening momentum from enterprise engagements and the growing alignment of the company with a software peer group. Goldman Sachs upgraded the stock to Buy with a 45 US dollars price target, pointing to improving execution and a reinforced pathway to profitable growth supported by product and ecosystem enhancements. Bank of America raised its price target to 40 US dollars while reiterating a Buy stance, highlighting sustained revenue growth and the leverage potential embedded in the operating model. Other well-followed research desks echo the constructive stance. Needham reiterated Buy with a 25 US dollars price target, citing expanding platform capabilities that can drive incremental adoption within the installed base. Roth MKM reaffirmed Buy and set a 44 US dollars price target, emphasizing a favorable setup in front of upcoming quarters as product breadth increases and cost structures scale. Craig-Hallum maintained Buy, underscoring continued top-line momentum and execution consistency, while William Blair reiterated a favorable view with commentary linking ecosystem partnerships and new capabilities to a future opportunity that could exceed 100 million US dollars in annualized recurring revenue contribution over time. The core of the bullish case centers on three elements that intersect with this quarter’s setup. First, consensus implies revenue growth of 43.52% year over year, with EBIT up 74.92% and adjusted EPS up 51.65%, which collectively reflect confidence that the company is extracting increasing operating leverage from its platform. Second, the recent expansion of capabilities—ranging from enterprise-grade operating frameworks to identity and data integrations—gives analysts a clearer line of sight into deeper customer engagement and monetization. Third, the company’s demonstrated ability to deliver high-50s gross margins and positive net profitability last quarter, combined with quarter-on-quarter net profit growth of 161.70%, establishes a foundation for continued improvement that, if reaffirmed, would support upward revisions to outer-period models. Analyst commentary also emphasizes that broader customer activation across the platform is creating more resilient revenue patterns, as clients adopt a wider array of modules and use cases. This, in turn, can compress sales cycles for add-ons and reduce the friction of multi-product adoption, contributing to higher attach and expansion within accounts. In the near term, several desks note that the market will likely reward confirmation of recurring monetization from recent product introductions and integrations, especially where those features demonstrate measurable uplift in client outcomes. It is noteworthy that multiple institutions recently adjusted price targets upward, even as the shares experienced interim volatility following earlier rallies. This pattern suggests that analysts view pullbacks as largely technical rather than thesis-changing, provided that revenue and EBIT trends continue to track with or modestly exceed the current quarter’s forecasts. The majority view anticipates that validating the consensus revenue of 470.86 million US dollars and adjusted EPS of 0.28 will reinforce the durability of the story through the next set of quarters. In summary, the prevailing institutional perspective ahead of the November 09, 2026 after-market report is constructive. The majority expects the company to deliver on a high-growth revenue cadence while advancing along a path of margin expansion and enhanced operating leverage, supported by expanding platform capabilities and ecosystem ties. The emphasis is squarely on evidence that the company can convert recent initiatives into revenue durability and EBIT scaling; meeting the current quarter’s consensus would strengthen the case that the platform’s growth and profitability vectors remain aligned.