Zynga Inc. (ZNGA) Now Covered by Analysts at Goldman Sachs Group, Inc. (The)
Equities research analysts at Goldman Sachs Group, Inc. (The) initiated coverage on shares of Zynga Inc. (NASDAQ:ZNGA) in a report issued on Friday, Marketbeat reports. The firm set a “neutral” rating and a $3.90 price target on the stock. Goldman Sachs Group, Inc. (The)’s target price points to a potential upside of 5.98% from the company’s current price.
Several other research firms also recently commented on ZNGA. Morgan Stanley reiterated an “overweight” rating and set a $3.70 target price on shares of Zynga in a research report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Thursday, August 10th. Wedbush reiterated an “outperform” rating and set a $4.65 target price (up from $4.25) on shares of Zynga in a research report on Wednesday, August 9th. Benchmark Co. reiterated a “buy” rating and set a $4.35 target price (up from $3.65) on shares of Zynga in a research report on Wednesday, August 9th. Finally, Canaccord Genuity lifted their target price on shares of Zynga from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $4.00.
Zynga (NASDAQ:ZNGA) traded down 0.27% during midday trading on Friday, hitting $3.68. 6,344,634 shares of the company traded hands. The firm’s market capitalization is $3.18 billion. Zynga has a 12-month low of $2.40 and a 12-month high of $3.86. The stock’s 50-day moving average is $3.66 and its 200-day moving average is $3.30.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by $0.01. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The business had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. The company’s revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Zynga will post $0.09 EPS for the current fiscal year.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $3.77, for a total transaction of $45,240.00. Following the transaction, the director now owns 134,478 shares in the company, valued at approximately $506,982.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 36,000 shares of company stock worth $132,360 in the last quarter. 12.43% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Gladstone Capital Management LLP acquired a new position in shares of Zynga during the 1st quarter valued at $1,648,000. BlackRock Inc. lifted its position in shares of Zynga by 5,061.5% during the 1st quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock valued at $102,420,000 after acquiring an additional 35,240,491 shares during the period. Two Sigma Securities LLC lifted its position in shares of Zynga by 103.1% during the 1st quarter. Two Sigma Securities LLC now owns 101,074 shares of the company’s stock valued at $288,000 after acquiring an additional 51,299 shares during the period. Morgan Stanley lifted its position in shares of Zynga by 30.4% during the 1st quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock valued at $78,186,000 after acquiring an additional 6,397,949 shares during the period. Finally, UBS Group AG lifted its position in shares of Zynga by 1.2% during the 1st quarter. UBS Group AG now owns 9,532,580 shares of the company’s stock valued at $27,168,000 after acquiring an additional 112,230 shares during the period. Institutional investors own 68.19% of the company’s stock.
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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