Zynga PT Raised to $4.50 (ZNGA)
Investment analysts at Piper Jaffray hoisted their target price on shares of Zynga (NASDAQ:ZNGA) from $4.00 to $4.50 in a note issued to investors on Friday, American Banking and Market News reports. Piper Jaffray’s price target would suggest a potential upside of 26.40% from the stock’s previous close.
Zynga (NASDAQ:ZNGA) traded up 18.82% during mid-day trading on Friday, hitting $4.23. 58,001,124 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 $3.450 billion.
Zynga (NASDAQ:ZNGA) last released its earnings data 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.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, 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. Five equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Zynga currently has a consensus rating of “Hold” and a consensus 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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