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Zynga (NASDAQ:ZNGA) was downgraded by equities research analysts at Bank of America Corp. from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, reports. They currently have a $3.80 target price on the stock, down from their previous target price of $4.40. Bank of America Corp.’s price target would indicate a potential downside of 13.64% from the stock’s previous close. The analysts noted that the move was a valuation call.

Zynga (NASDAQ:ZNGA) traded down 0.34% during mid-day trading on Monday, hitting $4.385. 54,520,856 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’s 50-day moving average is $3.89 and its 200-day moving average is $3.56. The company’s market cap is $3.598 billion. Zynga also was the recipient of some unusual options trading activity on Friday. Traders purchased 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 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 $-0.03 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Benchmark Co. raised their price target on shares of Zynga to $3.54 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at Wedbush raised their price target on shares of Zynga to $6.00 in a research note to investors on Friday. Finally, 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. Five research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $4.22.

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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