Zeta Global Holdings Corp. (ZETA), a marketing technology company, saw its stock jump about 7% on Tuesday, a sharp rebound that came one day after the company posted third-quarter results that beat expectations.

The move marked a quick turnaround. The stock had slipped roughly 3% in after-hours trading on Monday, even after gaining 4% during the regular session. A "beat and raise" quarter — one in which results top estimates and management lifts its forward outlook — has become the company's reporting pattern, and Tuesday's rally followed the 21st straight installment.

Q3 Results Beat Estimates

Zeta reported revenue of $492.7 million, up 46% from a year ago and ahead of the $474 million estimate. Adjusted earnings came in at $0.38 per share, while GAAP EPS was $0.14.

Adjusted EBITDA reached $121.0 million, topping the $116 million estimate and representing a 24.6% margin, up 140 basis points year over year. GAAP net income was $38.3 million, compared with a loss of $3.6 million a year earlier — a return to positive territory on a GAAP basis.

Wall St Engine flagged the highlights on X:

$ZETA GLOBAL Q3'26 EARNINGS HIGHLIGHTS Revenue: $492.7M (Est. $474M) ; +46% YoY GAAP EPS: $0.14 Adj. EBITDA: $121.0M (Est. $116M) ; +140 bps margin YoY FCF: $81.5M (Est. $68.3M) ; +73% YoY Customers & Assets: Super-Scaled Customers: 212; +18% YoY … pic.twitter.com/RBqNzaRH4e

— Wall St Engine (@wallstengine) November 9, 2026 View post on X

Growth excluding Marigold and political candidate revenue came to 30%, accelerating from 28% in the prior quarter. That adjusted measure, which strips out those two revenue streams, is reported separately from headline growth.

Cash Flow and a Higher Outlook

Operating cash flow was $91.3 million, and free cash flow was $81.5 million, above the $68.3 million estimate. KeyBanc noted that free cash flow growth of 73% outpaced revenue growth.

On the strength of the quarter, Zeta raised its 2026 outlook for revenue, adjusted EBITDA, free cash flow, and GAAP EPS. Revenue is now expected between $1.853 billion and $1.857 billion, and GAAP EPS guidance moved to $0.22 to $0.24. It was the company's 21st straight "beat and raise" quarter, a run in which each report has topped estimates and come with a raised outlook.

Management also gave early guidance for fiscal 2027, calling for organic growth of 20% to 21% excluding political revenue — a forecast Needham described as modestly ahead of consensus. The company said it is nearing some of its fiscal 2028 targets and is ahead of schedule on its fiscal 2030 goals. Taken together, the fresh 2026 ranges, the early look at 2027, and the fiscal 2028 and 2030 targets give readers a scoreboard for the quarters ahead.

Super-Scaled Customers Lead the Way

Super-scaled customers rose 18% to 212, and their average revenue per user climbed 22% to $2.0 million. Both figures sped up from the prior quarter and sit ahead of the company's 2028 model. Zeta credits broader adoption and use of its Athena platform. With customers in that tier each averaging $2.0 million in revenue, growth in their count and spending feeds directly into Zeta's revenue.

The company also pointed to early traction from its Palantir partnership and strong interest in AthenaOS, and said the sales pipeline from its Live event is much larger than last year's. Those three areas — partnership traction, AthenaOS interest, and the event-driven pipeline — are the early-stage items the company flagged, making updates on each worth tracking in coming quarters.

Analysts Reiterate Supportive Ratings

Needham kept its Buy rating and $40 price target. Analyst Scott Berg said the 4.6% revenue beat falls within Zeta's usual range and points to steady demand. Truist also lifted its target to $40 with a Buy rating.

On Tuesday, KeyBanc reiterated its Overweight rating and $38 target. The firm said the first pilot tied to the Palantir partnership has become a customer expected to reach super-scaled status in November.

ZETA shares have gained 89% over the past six months.

Source: Blockonomi — Zeta Global (ZETA) Stock Snaps Back 7% as Analysts Applaud 21st Straight Quarterly Beat