Zynga Sees Significant Growth in Short Interest (ZNGA)
Zynga (NASDAQ:ZNGA) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 64,726,464 shares, a growth of 34.3% from the April 15th total of 48,195,864 shares, Analyst Ratings.Net reports. Based on an average daily volume of 41,536,153 shares, the short-interest ratio is presently 1.6 days. Currently, 9.9% of the company’s stock are sold short.
ZNGA has been the subject of a number of recent research reports. Analysts at Benchmark Co. raised their price target on shares of Zynga from $3.46 to $3.52 in a research note on Thursday, April 24th. Separately, analysts at Barclays raised their price target on shares of Zynga from $4.50 to $5.00 in a research note on Thursday, April 24th. They now have an “equal weight” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Zynga from $4.40 to $5.00 in a research note on Thursday, April 24th. They now have a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Zynga presently has a consensus rating of “Hold” and an average price target of $4.62.
Zynga (NASDAQ:ZNGA) opened at 3.66 on Wednesday. Zynga has a one year low of $2.50 and a one year high of $5.89. The stock’s 50-day moving average is $4.1 and its 200-day moving average is $4.27. The company’s market cap is $3.237 billion.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.01). The company had revenue of $168.00 million for the quarter, compared to the consensus estimate of $147.52 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 36.3% on a year-over-year basis. Analysts expect that Zynga will post $0.02 EPS for the current fiscal year.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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