Zynga Inc. (ZNGA) Given Average Rating of “Buy” by Brokerages
Zynga Inc. (NASDAQ:ZNGA) has earned a consensus recommendation of “Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.94.
A number of research analysts have issued reports on ZNGA shares. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Thursday, April 13th. Cowen and Company restated an “outperform” rating and set a $4.25 target price (up from $3.50) on shares of Zynga in a research report on Saturday, June 3rd. Jefferies Group LLC restated a “buy” rating and set a $5.00 target price on shares of Zynga in a research report on Friday, May 5th. Benchmark Co. restated a “buy” rating and set a $3.65 target price on shares of Zynga in a research report on Friday, May 5th. Finally, Bank of America Corporation upgraded shares of Zynga from an “underperform” rating to a “neutral” rating and upped their target price for the company from $2.50 to $3.25 in a research report on Friday, May 5th.
Zynga (NASDAQ:ZNGA) traded up 2.53% during mid-day trading on Friday, hitting $3.65. 5,600,084 shares of the company were exchanged. Zynga has a 12-month low of $2.40 and a 12-month high of $3.86. The stock’s market cap is $3.14 billion. The company has a 50 day moving average of $3.57 and a 200 day moving average of $2.95.
Zynga (NASDAQ:ZNGA) last released its earnings results on Thursday, May 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Zynga had a negative net margin of 12.16% and a negative return on equity of 5.25%. The company had revenue of $194.30 million for the quarter, compared to the consensus estimate of $188.14 million. Zynga’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Zynga will post $0.09 earnings per share for the current fiscal year.
In related news, General Counsel Devang Shah sold 19,210 shares of the stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $2.73, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William B. Gordon sold 1,232,373 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.50, for a total value of $4,313,305.50. Following the sale, the director now directly owns 832,603 shares of the company’s stock, valued at $2,914,110.50. The disclosure for this sale can be found here. Insiders sold a total of 1,837,220 shares of company stock worth $6,421,791 over the last quarter. 12.43% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ZNGA. BlackRock Inc. boosted its stake in Zynga by 5,061.5% in the first quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock worth $102,420,000 after buying an additional 35,240,491 shares during the last quarter. Morgan Stanley boosted its stake in Zynga by 30.4% in the first quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock worth $78,186,000 after buying an additional 6,397,949 shares during the last quarter. Omega Advisors Inc. boosted its stake in Zynga by 606.7% in the first quarter. Omega Advisors Inc. now owns 7,067,100 shares of the company’s stock worth $20,141,000 after buying an additional 6,067,100 shares during the last quarter. Vanguard Group Inc. boosted its stake in Zynga by 10.2% in the first quarter. Vanguard Group Inc. now owns 60,636,895 shares of the company’s stock worth $172,814,000 after buying an additional 5,635,406 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Zynga by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 53,752,591 shares of the company’s stock worth $153,195,000 after buying an additional 5,142,597 shares during the last quarter. 67.03% of the stock is owned by institutional investors and hedge funds.
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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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