Traders Purchase Large Volume of Zynga Put Options (ZNGA)
Shares of Zynga (NASDAQ:ZNGA) was the recipient of some unusual options trading activity on Monday. Traders acquired 8,891 put options on the stock, American Banking News reports. This is an increase of 101% compared to the average daily volume of 4,417 put options.
ZNGA has been the subject of a number of recent research reports. 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 investment 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 stock has a consensus rating of “Hold” and a consensus target price of $3.36.
Zynga (NASDAQ:ZNGA) traded up 1.15% on Monday, hitting $3.525. The stock had a trading volume of 23,513,540 shares. Zynga has a 52-week low of $2.09 and a 52-week high of $4.03. The stock’s 50-day moving average is $2.97 and its 200-day moving average is $3.17. The company’s market cap is $2.835 billion.
Zynga (NASDAQ:ZNGA) last announced its earnings results 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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