Several brokerages have updated their recommendations and price targets on shares of Zynga (NASDAQ: ZNGA) in the last few weeks:

  • 6/8/2017 – Zynga was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $4.50 price target on the stock, up previously from $3.59.
  • 6/3/2017 – Zynga had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $4.20 price target on the stock, up previously from $3.50.
  • 6/3/2017 – Zynga had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $4.25 price target on the stock, up previously from $3.50.
  • 5/30/2017 – Zynga was upgraded by analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating. They now have a $4.00 price target on the stock, up previously from $3.00.
  • 5/19/2017 – Zynga had its “outperform” rating reaffirmed by analysts at Wedbush.
  • 5/15/2017 – Zynga had its price target raised by analysts at Bank of America Corp from $2.50 to $3.25.
  • 5/15/2017 – Zynga had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $3.65 price target on the stock.
  • 5/15/2017 – Zynga had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $3.00 price target on the stock.
  • 5/15/2017 – Zynga had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $3.50 price target on the stock.
  • 5/15/2017 – Zynga had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $5.00 price target on the stock.
  • 5/15/2017 – Zynga had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $3.00 price target on the stock.
  • 5/10/2017 – Zynga was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.75 price target on the stock. According to Zacks, “Zynga Inc. is the world’s largest social game developer with users playing their games which include CityVille, FarmVille, FrontierVille, Words With Friends, Mafia Wars, Zynga Poker, Cafe World, and Treasure Isle. Zynga Inc. games are available on a number of global platforms including Facebook, MySpace, Yahoo, the iPad, the iPhone and Android devices. They operate their games as live services, by which they mean that they continue to support and update games after launch and gather daily, metrics-based player feedback that enable them to continually enhance their games by adding new content and features. All of their games are free to play, and they generate revenue through the in-game sale of virtual goods and advertising. “
  • 5/5/2017 – Zynga was upgraded by analysts at Bank of America Corp from an “underperform” rating to a “neutral” rating. They now have a $3.25 price target on the stock, up previously from $2.50.
  • 5/5/2017 – Zynga had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $5.00 price target on the stock. They wrote, “This was Zynga’s best quarter in years. User levels grew for the first time since late 2012, while nice opex control drove solid upside to our estimates. While still very early, these are encouraging results that give confidence in management’s plan to drive leverage out of the company’s existing live operations.””
  • 5/5/2017 – Zynga had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $3.00 price target on the stock.
  • 5/5/2017 – Zynga had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $3.65 price target on the stock.
  • 5/5/2017 – Zynga had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $3.50 price target on the stock.
  • 5/5/2017 – Zynga had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $3.00 price target on the stock. They wrote, “We believe the revenue miss is a combination of factors including weaker than expected sales of the LR54 router from the cellular business group, weaker than expected sales for the mature networking business and a faster than expected decline in legacy RF and embedded products. As a result, Digi lowered guidance for FY17 from $201-211M to $182-189M with management highlighting new products ramping slower than expected in RF and embedded and some product modifications needed to improve its cellular offering. We believe new products in key segments of cellular routers and gateways, RF and embedded will lead to sequential improved results in Q4/F’17 combined with ramping sales for the cold chain recurring revenue services business now named Digi Smart Solutions. We maintain our belief Digi is in the early stage of its strategic initiatives to drive improving revenue growth with strong margin leverage potential. With Mr. Konezny helping implement Digi’s improved IoT focus and execution to drive a simplified Digi with stronger revenue growth and adjusted EBITDA margins longer-term, Digi’s strong product portfolio, and a healthy net cash position of $133M, we believe the shares represent an attractive opportunity for longer-term investors even with our lowered estimates.””
  • 4/26/2017 – Zynga had its “sector weight” rating reaffirmed by analysts at Pacific Crest.
  • 4/18/2017 – Zynga had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $5.00 price target on the stock. They wrote, “In conjuncture with our white paper on DLC/MTX, we are raising our price target on Take-Two. We believe one of the biggest draws for consumers to spend on DLC/ MTX is the quality of game IP. We believe TTWO with its leading IP is underearning mostly because of the breaks between title launches. For example, Red Dead Redemption, slated for fall ’17 launch, has never monetized MTX/online multiplayer. Once launched, we see investors starting to fully appreciate this growth story. Additionally, in our review, we came back to mgmt commentary about a more regular launch slate. With that in mind, we did a quick analysis of what that could mean for the company.””
  • 4/13/2017 – Zynga was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.25 price target on the stock. According to Zacks, “Zynga Inc. is the world’s largest social game developer with users playing their games which include CityVille, FarmVille, FrontierVille, Words With Friends, Mafia Wars, Zynga Poker, Cafe World, and Treasure Isle. Zynga Inc. games are available on a number of global platforms including Facebook, MySpace, Yahoo, the iPad, the iPhone and Android devices. They operate their games as live services, by which they mean that they continue to support and update games after launch and gather daily, metrics-based player feedback that enable them to continually enhance their games by adding new content and features. All of their games are free to play, and they generate revenue through the in-game sale of virtual goods and advertising. “

Shares of Zynga Inc (ZNGA) traded up 6.006% on Friday, hitting $3.795. 22,359,254 shares of the stock were exchanged. Zynga Inc has a one year low of $2.27 and a one year high of $3.82. The firm’s market cap is $3.26 billion. The firm’s 50 day moving average price is $3.28 and its 200 day moving average price is $2.87.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The firm had revenue of $194.30 million during the quarter, compared to analysts’ expectations of $188.14 million. Zynga had a negative return on equity of 5.96% and a negative net margin of 14.59%. Zynga’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Zynga Inc will post $0.09 earnings per share for the current year.

In other news, General Counsel Devang Shah sold 19,210 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $2.73, for a total value of $52,443.30. Following the completion of the sale, the general counsel now directly owns 88,157 shares of the company’s stock, valued at approximately $240,668.61. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $3.56, for a total value of $42,720.00. Following the completion of the sale, the director now directly owns 153,057 shares of the company’s stock, valued at $544,882.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,007,128 shares of company stock valued at $6,876,040. 16.60% of the stock is currently owned by company insiders.

Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.

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