Consider Zeta Global (ZETA) a high-conviction "Agentic AI" play, as its partnership with Palantir (PLTR) and the launch of its Athena AI agent are expected to drive revenue toward a $2.3 billion target by 2028. Wix.com (WIX) offers a deep-value opportunity to gain exposure to the "vibe-coding" trend through its Base 44 platform, which reached $100 million in annual recurring revenue in just one year. Investors seeking a margin of safety should look at Zoom Video Communications (ZM), which functions as a cash-flow stable proxy for the private AI giant Anthropic via its 1% ownership stake. Both ZETA and WIX are currently viewed as unfairly discounted due to market volatility and geopolitical factors, providing attractive entry points for long-term growth. Focus on these "proxy" investments to gain exposure to high-growth AI assets that the broader market has not yet fully priced into the established parent companies.

Zeta Global (ZETA)

• The analyst refers to Zeta as the "Palantir of marketing" due to its ability to track hundreds of millions of people in an AI graph and target them across various apps and the internet. • Proprietary Data Moat: The company possesses unique identifiers that allow for high-conversion AI-driven marketing. • Strategic Partnership: Recently partnered with Palantir (PLTR). The analyst views this as a "modern ERP" play where Palantir handles the back-end business logic and Zeta triggers autonomous marketing actions. • Financial Performance: * The business is "performing like crazy" with consistent beats and raises. * 2028 revenue guidance is ~$2.3 billion, but the analyst believes the Palantir partnership could add an unbaked $100 million in annual revenue by then. * Currently trading at an enterprise value over gross profit (EV/GP) of 0.16 with a Rule of 40 score of 57.

Takeaways

• Bullish Sentiment: The stock is viewed as "too cheap" and unfairly punished by recent market volatility (down ~20% from June highs). • Growth Potential: The analyst expects a "big pop" because the stock price has remained relatively range-bound while the underlying business fundamentals have improved significantly. • Agentic AI Play: The launch of the Athena AI agent is seen as a move toward replacing traditional marketing departments with autonomous systems.

Wix.com (WIX)

• Market Disconnect: The analyst highlights a massive divergence where revenue has doubled over five years, but the stock price has dropped nearly 86% in the same period. • Efficiency Gains: The CEO recently announced a 20% workforce reduction. The analyst views this as highly bullish for owners, as AI allows engineers to build website tools more efficiently, sending savings straight to the bottom line. • Vibe-Coding/AI Exposure: Wix owns Base 44, an up-and-coming "vibe-coding" (AI-assisted coding) platform that achieved $100 million in ARR in just one year. • Geopolitical Risk: The stock is likely depressed due to its headquarters being in Israel, leading to a "dump" alongside other regional stocks.

Takeaways

• Proxy Play: Wix is presented as a proxy for the "vibe-coding" trend. The analyst compares it to Cursor (recently valued highly) and suggests the market is giving Wix zero credit for owning Base 44. • Valuation: Trading at a five-year low despite being a "steady Eddie" subscription business with a 105% net retention rate. • Action: The analyst does not currently own Wix but has it on a watchlist as a potential value play in the AI space.

Zoom Video Communications (ZM)

• The "Anthropic" Play: The primary investment thesis for Zoom is its 1% ownership stake in Anthropic (a leading AI startup and OpenAI competitor). • Valuation Arbitrage: The analyst suggests that Zoom’s entire Enterprise Value (EV) could eventually be justified solely by the value of its Anthropic stake, which is estimated to be worth billions as Anthropic's valuation climbs toward $1 trillion. • Financial Stability: While not a high-growth business (5-6% annual growth), Zoom is a "cash-flowing machine" with a massive amount of cash on the balance sheet.

Takeaways

• Margin of Safety: The core Zoom conferencing business is viewed as a "boring" but stable floor that provides a margin of safety, while the Anthropic stake provides the massive upside potential. • Sentiment: Bullish on the valuation. The analyst views the recent price drop from $110 back to the $80s as a "full roller coaster" that hasn't changed the underlying value of the AI assets.

Investment Themes & Sectors

Agentic AI & Marketing Automation

• The shift from human-led marketing departments to autonomous "Agentic AI" (like Zeta’s Athena) that can trigger and manage campaigns without human intervention.

Vibe-Coding

• A new software development trend where AI handles the bulk of coding based on "vibes" or high-level intent. Wix (via Base 44) and Cursor are key names in this emerging niche.

Proxy Investing

• A strategy mentioned throughout the transcript where investors buy "boring" or established companies (Zoom, Wix) to gain exposure to high-growth, private, or expensive AI assets (Anthropic, Base 44) at a discount.