Zynga Upgraded to Outperform at Zacks (ZNGA)
Zynga (NASDAQ:ZNGA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday. The firm currently has a $3.10 price target on the stock. Zacks‘s price objective points to a potential upside of 7.64% from the company’s current price.
Zynga (NASDAQ:ZNGA) traded down 1.37% during mid-day trading on Friday, hitting $2.88. 85,044,208 shares of the company’s stock traded hands. Zynga has a 52 week low of $2.70 and a 52 week high of $5.89. The stock’s 50-day moving average is $3.04 and its 200-day moving average is $3.90. The company’s market cap is $2.514 billion. Zynga also saw unusually large options trading activity on Thursday. Investors bought 72,569 call options on the stock. This represents an increase of approximately 596% compared to the average volume of 10,423 call options.
Zynga (NASDAQ:ZNGA) last released its earnings data 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. On average, analysts predict that Zynga will post $0.01 earnings per share for the current fiscal year.
ZNGA has been the subject of a number of other recent research reports. Analysts at Goldman Sachs cut their price target on shares of Zynga to $3.00 in a research note on Friday. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.85.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
To view Zacks’ full report, visit Zacks’ official website.
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