Zynga Price Target Raised to $4.00 at Piper Jaffray Cos. (ZNGA)
Investment analysts at Piper Jaffray Cos. upped their price target on shares of Zynga (NASDAQ:ZNGA) from $3.00 to $4.00 in a note issued to investors on Friday, Stock Ratings News reports. The firm currently has a “neutral” rating on the stock. Piper Jaffray Cos.’s target price indicates a potential upside of 7.27% from the stock’s previous close.
In other Zynga news, EVP Reginald D. Davis sold 19,899 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $3.57, for a total value of $71,039.43. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on ZNGA. Analysts at Macquarie raised their price target on shares of Zynga from $2.75 to $3.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. Zynga currently has a consensus rating of “Hold” and an average target price of $3.77.
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’s 50-day moving average is $2.93 and its 200-day moving average is $3.19. The company’s market cap is $2.999 billion. Zynga also saw some unusual options trading on Thursday. Traders bought 89,149 call options on the stock. This represents an increase of approximately 425% compared to the typical volume of 16,979 call options.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Thursday, October 24th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters 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 quarterly revenue 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.