Evercore Partners Increases Zynga Price Target to $4.50 (ZNGA)
Research analysts at Evercore Partners boosted their price target on shares of Zynga (NASDAQ:ZNGA) from $4.00 to $4.50 in a report released on Friday, American Banking & Market News reports. Evercore Partners’ price objective indicates a potential upside of 26.40% from the stock’s previous close.
Shares of Zynga (NASDAQ:ZNGA) traded up 17.65% during mid-day trading on Friday, hitting $4.1885. The stock had a trading volume of 59,671,304 shares. Zynga has a one year low of $2.50 and a one year high of $4.55. The stock has a 50-day moving average of $3. and a 200-day moving average of $3.56. The company’s market cap is $3.416 billion.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Thursday, January 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $176.36 million for the quarter, compared to the consensus estimate of $141.07 million. On average, analysts predict that Zynga will post $-0.06 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Telsey Advisory Group raised their price target on shares of Zynga from $4.00 to $6.00 in a research note to investors on Friday. They now have a “not rated” rating on the stock. Separately, analysts at Janney Montgomery Scott upgraded shares of Zynga from a “sell” rating to a “neutral” rating in a research note to investors on Friday. Finally, analysts at UBS AG downgraded shares of Zynga from a “hold” rating to a “sell” rating in a research note to investors on Thursday, January 16th. They now have a $3.54 price target on the stock, down previously from $4.03. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $4.18.
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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