Zeta Global Upgraded, AI Fuels 2% Rise

KeyBanc upgraded Zeta Global to Overweight with a $22 price target, citing the AI‑powered Athena platform.
Athena, launched March 24, has driven higher customer spend, with some users achieving 600% ROAS and aiming for 1,000% with AI.
Recurring revenue is projected to reach ~60% of total in 2025 (up from 55% in 2023) after the Marigold acquisition, enhancing margin profile.
Morgan Stanley forecasts ~26% organic revenue growth, 350 bps upside to estimates and a slight raise to full‑year guidance.