Zynga Inc. (ZNGA) Given Average Recommendation of “Buy” by Brokerages
Shares of Zynga Inc. (NASDAQ:ZNGA) have been given an average rating of “Buy” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $3.90.
ZNGA has been the topic of several recent research reports. Zacks Investment Research upgraded Zynga from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a report on Thursday, April 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $5.00 price target on shares of Zynga in a report on Friday, May 5th. Benchmark Co. reiterated a “buy” rating and issued a $3.65 price target on shares of Zynga in a report on Friday, May 5th. Bank of America Corporation upgraded Zynga from an “underperform” rating to a “neutral” rating and raised their price target for the company from $2.50 to $3.25 in a report on Friday, May 5th. Finally, Piper Jaffray Companies upgraded Zynga from a “neutral” rating to an “overweight” rating and raised their price target for the company from $3.00 to $4.00 in a report on Tuesday, May 30th.
In other news, Director William B. Gordon sold 1,232,373 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the sale, the director now owns 832,603 shares of the company’s stock, valued at $2,914,110.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $3.56, for a total value of $42,720.00. Following the sale, the director now directly owns 153,057 shares in the company, valued at approximately $544,882.92. The disclosure for this sale can be found here. Insiders sold 1,837,220 shares of company stock worth $6,412,191 in the last three months. Insiders own 12.43% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in Zynga during the first quarter worth approximately $8,390,000. Salem Investment Counselors Inc. raised its stake in Zynga by 2.4% in the first quarter. Salem Investment Counselors Inc. now owns 851,375 shares of the company’s stock worth $2,426,000 after buying an additional 20,325 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Zynga during the first quarter worth approximately $116,000. Credit Suisse AG raised its stake in Zynga by 92.9% in the first quarter. Credit Suisse AG now owns 1,000,771 shares of the company’s stock worth $2,852,000 after buying an additional 481,861 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Zynga during the first quarter worth approximately $797,000. 70.22% of the stock is currently owned by institutional investors.
Shares of Zynga (NASDAQ ZNGA) traded down 0.27% during trading on Monday, hitting $3.68. 10,436,456 shares of the stock traded hands. The firm’s 50-day moving average price is $3.41 and its 200-day moving average price is $2.90. The company’s market cap is $3.17 billion. Zynga has a 52 week low of $2.27 and a 52 week high of $3.82.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Thursday, May 4th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $194.30 million for the quarter, compared to analysts’ expectations of $188.14 million. Zynga had a negative return on equity of 5.25% and a negative net margin of 12.16%. The company’s revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Zynga will post $0.09 earnings per share for the current year.
Zynga Company Profile
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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