Zynga Price Target Increased to $6.00 by Analysts at Wedbush (ZNGA)
Analysts at Wedbush hoisted their price objective on shares of Zynga (NASDAQ:ZNGA) to $6.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network.com reports. Wedbush’s target price would suggest a potential upside of 68.54% from the stock’s previous close.
Zynga (NASDAQ:ZNGA) traded up 17.98% on Friday, hitting $4.20. 57,068,728 shares of the company’s stock traded hands. 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 $3.425 billion.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Thursday, January 30th. The company reported ($0.03) earnings per share for the quarter, beating the analysts’ 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray raised their price target on shares of Zynga from $4.00 to $4.50 in a research note to investors on Friday. Separately, analysts at Barclays raised their price target on shares of Zynga from $4.00 to $4.50 in a research note to investors on Friday. They now have an “equal weight” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Zynga from $4.00 to $4.50 in a research note to investors on Friday. Five analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Zynga presently has a consensus rating of “Hold” and an average price target 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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