Zynga Given New $3.00 Price Target at Macquarie (ZNGA)
Macquarie dropped their target price on shares of Zynga (NASDAQ:ZNGA) from $4.00 to $3.00 in a research note issued on Friday. The firm currently has a “neutral” rating on the stock. Macquarie’s target price would indicate a potential upside of 4.17% from the stock’s previous close.
ZNGA has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Zynga from a “neutral” rating to an “outperform” rating in a research note on Friday. They now have a $3.10 price target on the stock. Separately, analysts at Goldman Sachs cut their price target on shares of Zynga to $3.00 in a research note on Friday. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Zynga in a research note on Friday. They now have a $3.50 price target on the stock, down previously from $4.00. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Zynga currently has a consensus rating of “Hold” and an average target price of $3.85.
Shares of Zynga (NASDAQ:ZNGA) opened at 2.88 on Friday. Zynga has a one year low of $2.70 and a one year high of $5.89. The stock has a 50-day moving average of $3.04 and a 200-day moving average of $3.90. The company’s market cap is $2.547 billion. Zynga also saw some unusual options trading activity on Thursday. Traders purchased 72,569 call options on the company. This represents an increase of 596% compared to the typical 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 (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. 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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