Zynga Inc. (NASDAQ:ZNGA) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Thursday, August 10th. Benchmark Co. reaffirmed a “buy” rating and set a $4.35 price target (up previously from $3.65) on shares of Zynga in a research report on Wednesday, August 9th. Wedbush reaffirmed an “outperform” rating and set a $4.65 price target (up previously from $4.25) on shares of Zynga in a research report on Wednesday, August 9th. Cowen and Company reaffirmed an “outperform” rating and set a $4.50 price target on shares of Zynga in a research report on Thursday, August 3rd. Finally, Canaccord Genuity upped their price target on shares of Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $4.01.

Shares of Zynga (ZNGA) opened at 3.65 on Wednesday. The stock’s market capitalization is $3.16 billion. The stock’s 50 day moving average price is $3.64 and its 200 day moving average price is $3.21. Zynga has a one year low of $2.40 and a one year high of $3.86.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. The company had revenue of $209.20 million during the quarter, compared to analyst estimates of $201.64 million. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts forecast that Zynga will post $0.09 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This article was originally published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/08/23/zynga-inc-znga-rating-increased-to-buy-at-bidaskclub.html.

In other Zynga news, Director William B. Gordon sold 1,232,373 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $3.50, for a total value of $4,313,305.50. Following the completion of the sale, the director now owns 832,603 shares in the company, valued at approximately $2,914,110.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William B. Gordon sold 549,637 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $3.52, for a total transaction of $1,934,722.24. Following the completion of the sale, the director now owns 832,603 shares of the company’s stock, valued at approximately $2,930,762.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,818,010 shares of company stock valued at $6,377,868. Company insiders own 12.43% of the company’s stock.

Large investors have recently modified their holdings of the company. World Asset Management Inc raised its stake in shares of Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock valued at $101,000 after buying an additional 98 shares during the last quarter. Princeton Portfolio Strategies Group LLC raised its stake in shares of Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after buying an additional 10,900 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Zynga during the third quarter valued at about $105,000. The Manufacturers Life Insurance Company raised its stake in shares of Zynga by 23.2% in the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after buying an additional 5,815 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Zynga during the first quarter valued at about $116,000. Institutional investors own 68.43% of the company’s stock.

About Zynga

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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

Receive News & Ratings for Zynga Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga Inc. and related companies with MarketBeat.com's FREE daily email newsletter.