Zynga Inc. (ZNGA) Receives Average Rating of “Buy” from Analysts
Zynga Inc. (NASDAQ:ZNGA) has received a consensus recommendation of “Buy” from the seventeen research firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $4.08.
Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Zynga from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised shares of 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. reissued a “buy” rating and set a $4.35 price objective (up from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Piper Jaffray Companies set a $4.00 price objective on shares of Zynga and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Cowen and Company reissued a “buy” rating and set a $4.50 price objective on shares of Zynga in a report on Thursday, October 12th.
Shares of Zynga (NASDAQ ZNGA) traded up 0.51% during midday trading on Friday, reaching $3.94. 12,179,206 shares of the company’s stock were exchanged. Zynga has a 12-month low of $2.40 and a 12-month high of $4.02. The firm has a 50-day moving average of $3.79 and a 200-day moving average of $3.52. The stock’s market capitalization is $3.06 billion.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $201.64 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The firm’s revenue was up 15.1% compared to the same quarter last year. Analysts anticipate that Zynga will post $0.10 EPS for the current fiscal year.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $3.79, for a total value of $45,480.00. Following the completion of the transaction, the director now directly owns 122,478 shares in the company, valued at $464,191.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 36,000 shares of company stock valued at $134,160. Company insiders own 12.43% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of 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 purchasing an additional 35,240,491 shares during the period. Legal & General Group Plc lifted its holdings in shares of Zynga by 454.0% in the second quarter. Legal & General Group Plc now owns 1,414,781 shares of the company’s stock worth $5,110,000 after buying an additional 1,159,405 shares in the last quarter. Comerica Bank lifted its holdings in shares of Zynga by 914.3% in the second quarter. Comerica Bank now owns 306,032 shares of the company’s stock worth $1,148,000 after buying an additional 275,860 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Zynga in the first quarter worth $8,390,000. Finally, Amalgamated Bank lifted its holdings in shares of Zynga by 31.7% in the second quarter. Amalgamated Bank now owns 137,196 shares of the company’s stock worth $499,000 after buying an additional 33,022 shares in the last quarter. Institutional investors and hedge funds own 68.21% of the company’s stock.
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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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