Zynga Receives “Hold” Rating from Canaccord Genuity (ZNGA)
Zynga (NASDAQ:ZNGA)‘s stock had its “hold” rating restated by equities research analysts at Canaccord Genuity in a research note issued to investors on Friday. They currently have a $4.00 price objective on the stock, down from their previous price objective of $5.00. Canaccord Genuity’s price target points to a potential upside of 36.99% from the company’s current price.
Shares of Zynga (NASDAQ:ZNGA) opened at 2.92 on Friday. 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 $2.583 billion.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was down 33.7% on a year-over-year basis. On average, analysts predict that Zynga will post $0.02 earnings per share for the current fiscal year.
ZNGA has been the subject of a number of other recent research reports. Analysts at Benchmark Co. reiterated a “hold” rating on shares of Zynga in a research note on Tuesday. They now have a $3.08 price target on the stock, down previously from $3.52. 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Zynga 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.