Zynga Upgraded by Zacks to Outperform (ZNGA)
Zynga (NASDAQ:ZNGA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Wednesday, AnalystRatings.NET reports. The firm currently has a $4.80 price objective on the stock. Zacks‘ target price would suggest a potential upside of 4.58% from the stock’s previous close.
Shares of Zynga (NASDAQ:ZNGA) traded down 2.18% on Wednesday, hitting $4.49. 25,045,798 shares of the company’s stock traded hands. Zynga has a 52 week low of $2.50 and a 52 week high of $4.97. The stock’s 50-day moving average is $3.92 and its 200-day moving average is $3.58. The company’s market cap is $3.684 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 $0.01 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ZNGA. Analysts at UBS AG upgraded shares of Zynga from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $6.00 price target on the stock, up previously from $4.00. Separately, analysts at Bank of America Corp. downgraded shares of Zynga from a “neutral” rating to an “underperform” rating in a research note to investors on Monday. They now have a $3.80 price target on the stock, down previously from $4.40. They noted that the move was a valuation call. Finally, analysts at Benchmark Co. raised their price target on shares of Zynga to $3.54 in a research note to investors on Friday, January 31st. They now have a “hold” rating on the stock. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Zynga presently has a consensus rating of “Hold” and an average target price of $4.36.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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