Zynga Upgraded to Neutral at Janney Montgomery Scott (ZNGA)
Zynga (NASDAQ:ZNGA) was upgraded by research analysts at Janney Montgomery Scott from a “sell” rating to a “neutral” rating in a report released on Friday, TheFlyOnTheWall.com reports. The firm currently has a $4.25 price target on the stock, up from their previous price target of $2.50. Janney Montgomery Scott’s price objective would indicate a potential downside of 3.41% from the company’s current price.
Shares of Zynga (NASDAQ:ZNGA) traded up 23.60% during mid-day trading on Friday, hitting $4.40. The stock had a trading volume of 170,319,312 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 $3.89 and a 200-day moving average of $3.56. The company’s market cap is $3.588 billion. Zynga also saw unusually large options trading activity on Friday. Stock investors acquired 149,373 call options on the stock. This represents an increase of approximately 430% compared to the typical daily volume of 28,169 call options.
Zynga (NASDAQ:ZNGA) last announced its 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. Analysts expect that Zynga will post $-0.04 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Sterne Agee cut their EPS estimates on shares of Zynga in a research note on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at Zacks downgraded shares of Zynga from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, December 25th. They now have a $4.90 price target on the stock. Four analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $4.17.
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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