Zynga Stock Rating Upgraded by Zacks (ZNGA)
Zynga (NASDAQ:ZNGA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, AmericanBankingNews.com reports. The firm currently has a $4.10 price target on the stock. Zacks‘ price objective would suggest a potential upside of 8.47% from the company’s current price.
In other Zynga news, EVP Reginald D. Davis sold 19,899 shares of the company’s stock on the open market in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $3.57, for a total value of $71,039.43. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Zynga (NASDAQ:ZNGA) traded down 2.51% during mid-day trading on Tuesday, hitting $3.685. 17,167,168 shares of the company’s stock traded hands. 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 $2.93 and its 200-day moving average is $3.19. The company’s market cap is $2.963 billion.
Zynga (NASDAQ:ZNGA) last released its earnings data 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 quarterly revenue was down 36.0% on a year-over-year basis. On average, analysts predict that Zynga will post $-0.07 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ZNGA. Analysts at Wedbush raised their price target on shares of Zynga from $4.25 to $5.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Piper Jaffray Cos. 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 a “neutral” rating on the stock. Finally, 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. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $3.80.
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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