Zynga PT Lowered to $3.00 (ZNGA)
Investment analysts at Goldman Sachs lowered their price target on shares of Zynga (NASDAQ:ZNGA) to $3.00 in a note issued to investors on Friday. Goldman Sachs’ target price suggests a potential upside of 2.74% from the company’s current price.
Shares of Zynga (NASDAQ:ZNGA) traded down 5.48% during mid-day trading on Friday, hitting $2.76. The stock had a trading volume of 37,364,228 shares. Zynga has a 52 week low of $2.72 and a 52 week high of $5.89. The stock’s 50-day moving average is $3.05 and its 200-day moving average is $3.90. The company’s market cap is $2.441 billion. Zynga also saw unusually large options trading on Thursday. Investors purchased 72,569 call options on the stock. This represents an increase of 596% compared to the average daily volume of 10,423 call options.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.07) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.04. The company had revenue of $153.00 million for the quarter, compared to the consensus estimate of $191.21 million. During the same quarter last year, the company posted ($0.01) earnings per share. Zynga’s revenue was down 33.7% compared to the same quarter last year. Analysts expect that Zynga will post $0.02 EPS for the current fiscal year.
ZNGA has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Zynga in a research note on Friday. They now have a $6.00 price target on the stock, down previously from $7.00. Separately, analysts at Telsey Advisory Group cut their price target on shares of Zynga from $6.00 to $5.00 in a research note on Friday. They now have a “not rated” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Zynga in a research note on Friday. They now have a $4.00 price target on the stock, down previously from $5.00. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.40.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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