Zynga Price Target Raised to $3.00 at Macquarie (ZNGA)
Stock analysts at Macquarie lifted their price objective on shares of Zynga (NASDAQ:ZNGA) from $2.75 to $3.00 in a report issued on Friday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. Macquarie’s target price would suggest a potential downside of 19.55% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Zynga from $3.00 to $3.50 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Zynga from $3.00 to $4.00 in a research note to investors on Friday. Finally, analysts at BMO Capital Markets raised their price target on shares of Zynga from $3.50 to $4.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. Zynga currently has an average rating of “Hold” and an average target price of $3.77.
Shares of Zynga (NASDAQ:ZNGA) traded up 5.49% on Friday, hitting $3.729. The stock had a trading volume of 90,347,256 shares. Zynga has a 1-year low of $2.09 and a 1-year high of $4.03. The stock has a 50-day moving average of $2.93 and a 200-day moving average of $3.19. The company’s market cap is $2.999 billion. Zynga also saw some unusual options trading on Thursday. Stock traders purchased 89,149 call options on the company. This represents an increase of approximately 425% compared to the average daily volume of 16,979 call options.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Thursday, October 24th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $203.00 million for the quarter, compared to the consensus estimate of $141.65 million. The company’s revenue for the quarter was down 36.0% on a year-over-year basis.
In other Zynga news, EVP Reginald D. Davis sold 19,899 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $3.57, for a total transaction of $71,039.43. The sale was disclosed in a legal filing with the SEC, which is available at this link.
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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