2 Analyst Notes Worth Unpacking Today

ZETA is on track for its best day in over a year

Deputy Editor
Apr 4, 2024 at 2:39 PM
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While Wall Street churns amid a late-day pivot into the red, two reasonably priced big-name stocks, Zeta Global Holdings Corp (NYSE:ZETA) and Hertz Global Holdings Inc (NASDAQ:HTZ) are making outsized moves today following analyst notes. 

Software stock ZETA is up 16.2% to trade at $12.24, on track for its largest single-session percentage gain since February 2023 and earlier hitting a two-year high of $12.44. This pop comes after an upgrade from Morgan Stanley to "overweight" from "equal weight," with a price-target hike to $17 from $12. The firm cited near-term catalysts a "strong track record" of prudent outlooks. Since the start of the year, the equity is up 39.4%. 

Unsurprisingly, Zeta stock's typically quiet options pits are much more active than usual, having already seen 35.6 times the average daily options volume. The April 12.50 and May 12.50 calls are the most popular by far, with new positions being bought to open at both. 

Rental car stock HTZ is moving in the opposite direction, following a downgrade from Goldman Sachs to "sell" from "neutral." The analyst in coverage believes investors have yet to price in near-term pressures. At last glance, Hertz stock was down 3.9% to trade at $7.33, earlier falling as low as $7.05. This negative price action has the shares nearing their Mar. 18 record low of $6.88, down 29.7% in 2024. 

The other eight analysts in coverage still carry a "hold" rating on HTZ, while the 12-month consensus price target of $9 leaves room for further price-target cuts, especially if the $8 level remains as a ceiling of pressure. It's also worth noting that the stock has failed to capitalize on short covering, with short interest down 8.4% in the last two weeks, pointing to underlying technical weakness. Currently, 8.3% of the stock's available float is still sold short. 

 

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