Zynga Target of Unusually High Options Trading (ZNGA)
Shares of Zynga (NASDAQ:ZNGA) was the target of unusually large options trading activity on Tuesday. Investors purchased 33,698 call options on the stock, AnalystRatingsNetwork reports. This is an increase of approximately 180% compared to the average daily volume of 12,026 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 equities research 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 currently has an average rating of “Hold” and a consensus target price of $3.36.
Zynga (NASDAQ:ZNGA) traded up 2.41% on Tuesday, hitting $3.61. The stock had a trading volume of 37,450,792 shares. Zynga has a 52 week low of $2.09 and a 52 week high of $4.03. The stock has a 50-day moving average of $2.99 and a 200-day moving average of $3.1. The company’s market cap is $2.904 billion.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Thursday, July 25th. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.01 earnings per share. Zynga’s revenue was down 30.6% compared to the same quarter last year. 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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