Zynga Sees Large Drop in Short Interest (ZNGA)
Zynga (NASDAQ:ZNGA) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 63,269,401 shares, a decrease of 2.3% from the April 30th total of 64,726,464 shares, Analyst Ratings News reports. Currently, 9.0% of the company’s shares are short sold. Based on an average daily trading volume, of 22,176,534 shares, the days-to-cover ratio is presently 2.9 days.
Several analysts have recently commented on the stock. Analysts at Piper Jaffray cut their price target on shares of Zynga from $5.00 to $4.50 in a research note on Thursday, May 22nd. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $4.53.
Zynga (NASDAQ:ZNGA) opened at 3.39 on Tuesday. Zynga has a one year low of $2.50 and a one year high of $5.89. The stock has a 50-day moving average of $3.74 and a 200-day moving average of $4.2. The company’s market cap is $2.998 billion.
Zynga (NASDAQ:ZNGA) last released its earnings data on Wednesday, April 23rd. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 36.3% on a year-over-year basis. On average, analysts predict that Zynga will post $0.02 earnings per share for the current fiscal year.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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