Short Interest in Zynga Decreases By 6.6% (ZNGA)
Zynga (NASDAQ:ZNGA) saw a large decline in short interest in June. As of June 13th, there was short interest totalling 54,607,642 shares, a decline of 6.6% from the May 30th total of 58,465,116 shares, American Banking & Market News reports. Based on an average daily trading volume, of 37,738,693 shares, the days-to-cover ratio is currently 1.4 days. Currently, 7.8% of the shares of the stock are sold short.
ZNGA has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $4.53.
Shares of Zynga (NASDAQ:ZNGA) opened at 3.23 on Monday. Zynga has a one year low of $2.72 and a one year high of $5.89. The stock has a 50-day moving average of $3.26 and a 200-day moving average of $4.1. The company’s market cap is $2.857 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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