Zynga Price Target Raised to $3.50 at Jefferies Group (ZNGA)
Jefferies Group increased their target price on shares of Zynga (NASDAQ:ZNGA) from $3.00 to $3.50 in a research note issued on Friday, American Banking News reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price target indicates a potential downside of 6.14% from the company’s current price.
In other Zynga news, EVP Reginald D. Davis unloaded 19,899 shares of the company’s 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Barclays raised their price target on shares of Zynga from $3.00 to $4.00 in a research note to investors on Friday. They now have an “equal weight” rating on the stock. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Zynga presently has an average rating of “Hold” and an average target price of $3.77.
Zynga (NASDAQ:ZNGA) traded up 5.49% during mid-day trading on Friday, hitting $3.729. The stock had a trading volume of 90,347,256 shares. Zynga has a one year low of $2.09 and a one 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 was the recipient of unusually large options trading on Thursday. Investors bought 89,149 call options on the company. This represents an increase of approximately 425% compared to the average volume of 16,979 call options.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Thursday, October 24th. The company reported ($0.02) earnings per share for the quarter, beating the analysts’ 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.
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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