Investors Purchase High Volume of Put Options on Zynga (ZNGA)
Zynga (NASDAQ:ZNGA) saw some unusual options trading activity on Wednesday. Traders purchased 14,996 put options on the company, Analyst Ratings.Net reports. This represents an increase of 189% compared to the typical volume of 5,183 put options.
A number of analysts have recently weighed in on ZNGA shares. 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 issued a hold rating and one has given a buy rating to the company’s stock. Zynga has an average rating of “Hold” and an average price target of $3.36.
Shares of Zynga (NASDAQ:ZNGA) traded up 4.85% during mid-day trading on Wednesday, hitting $3.785. The stock had a trading volume of 53,979,268 shares. 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 $3.00 and its 200-day moving average is $3.18. The company’s market cap is $3.044 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. Analysts expect that Zynga will post $-0.07 EPS 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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