Traders Purchase Large Volume of Zynga Call Options (ZNGA)
Zynga (NASDAQ:ZNGA) was the target of unusually large options trading activity on Thursday. Investors purchased 42,725 call options on the company, American Banking & Market News reports. This represents an increase of 400% compared to the typical daily volume of 8,546 call options.
A number of research firms have recently commented on ZNGA. Analysts at Evercore Partners upgraded shares of Zynga (NASDAQ:ZNGA) from an “underweight” rating to an “equal weight” rating in a research note to investors on Thursday, September 12th. They now have a $3.00 price target on the stock. Separately, analysts at Barclays Capital initiated coverage on shares of Zynga (NASDAQ:ZNGA) in a research note to investors on Friday, September 6th. They set an “equal weight” rating on the stock. Finally, analysts at Benchmark Co. initiated coverage on shares of Zynga (NASDAQ:ZNGA) in a research note to investors on Thursday, August 22nd. They set a “hold” rating and a $2.98 price target on the stock.
Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $3.36.
Zynga (NASDAQ:ZNGA) traded up 6.15% on Thursday, hitting $3.471. 45,115,396 shares of the company’s stock traded hands. Zynga has a one year low of $2.09 and a one year high of $4.03. The stock’s 50-day moving average is $2.94 and its 200-day moving average is $3.18. The company’s market cap is $2.792 billion.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Thursday, July 25th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.03. The company had revenue of $230.70 million for the quarter, compared to the consensus estimate of $224.30 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 30.6% on a year-over-year basis. On average, analysts predict that Zynga will post $-0.07 earnings per share for the current fiscal year.
Zynga Inc (NASDAQ:ZNGA), is a provider of social game services with 240 million average monthly active users over 175 countries.
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