Robert W. Baird Reaffirms Hold Rating for Zynga Inc. (ZNGA)
Zynga Inc. (NASDAQ:ZNGA)‘s stock had its “hold” rating reiterated by Robert W. Baird in a note issued to investors on Friday. They currently have a $4.00 target price on the stock. Robert W. Baird’s price objective would suggest a potential upside of 4.71% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the company. Goldman Sachs Group, Inc. (The) assumed coverage on Zynga in a report on Friday, September 8th. They set a “neutral” rating and a $3.90 price objective for the company. BidaskClub upgraded Zynga from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research upgraded Zynga from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Thursday, August 10th. Benchmark Co. restated a “buy” rating and set a $4.35 price objective (up previously from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Finally, Wedbush restated an “outperform” rating and set a $4.65 price objective (up previously from $4.25) on shares of Zynga in a report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $4.06.
Shares of Zynga (NASDAQ:ZNGA) traded up 1.33% during trading on Friday, hitting $3.82. The company had a trading volume of 6,186,915 shares. Zynga has a 52 week low of $2.40 and a 52 week high of $3.86. The stock’s 50-day moving average price is $3.66 and its 200 day moving average price is $3.33. The company’s market capitalization is $3.31 billion.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the Zacks’ 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 company had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $201.64 million. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Zynga will post $0.10 earnings per share for the current year.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $3.64, for a total value of $43,680.00. Following the completion of the sale, the director now directly owns 141,057 shares in the company, valued at approximately $513,447.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 36,000 shares of company stock valued at $132,360 over the last quarter. Company insiders own 12.43% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZNGA. World Asset Management Inc raised its position in shares of Zynga by 0.4% in the 2nd quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after acquiring an additional 98 shares in the last quarter. Princeton Portfolio Strategies Group LLC increased its position in Zynga by 43.6% during the 1st 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 in the last quarter. The Manufacturers Life Insurance Company increased its position in Zynga by 23.2% during the 2nd 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 in the last quarter. HighTower Advisors LLC acquired a new position in Zynga during the 1st quarter valued at about $116,000. Finally, Prudential Financial Inc. increased its position in Zynga by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after buying an additional 3,700 shares in the last quarter. 68.19% of the stock is owned by hedge funds and other institutional investors.
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.
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.