Consumer Edge initiated coverage on shares of Zynga (NASDAQ:ZNGA) in a research report issued to clients and investors on Wednesday. The brokerage set an “overweight” rating and a $4.50 price target on the stock. Consumer Edge’s target price would suggest a potential upside of 14.80% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Zynga from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Robert W. Baird restated a “hold” rating and set a $4.00 price target on shares of Zynga in a research report on Friday, September 15th. KeyCorp restated a “hold” rating on shares of Zynga in a research report on Tuesday, October 17th. BidaskClub lowered shares of Zynga from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Goldman Sachs Group started coverage on shares of Zynga in a research report on Friday, September 8th. They set a “neutral” rating and a $3.90 price target for the company. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $4.14.
Zynga (NASDAQ:ZNGA) traded down $0.08 during mid-day trading on Wednesday, reaching $3.92. 12,411,200 shares of the company were exchanged, compared to its average volume of 8,837,850. The firm has a market cap of $3,440.00, a PE ratio of -130.67, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76. Zynga has a twelve month low of $2.40 and a twelve month high of $4.34.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The business had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $211.98 million. During the same period in the prior year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. equities research analysts anticipate that Zynga will post 0.02 EPS for the current fiscal year.
In other Zynga news, insider Bernard Jin Kim sold 50,000 shares of Zynga stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $3.94, for a total transaction of $197,000.00. Following the transaction, the insider now directly owns 349,450 shares of the company’s stock, valued at $1,376,833. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $3.86, for a total transaction of $46,320.00. Following the transaction, the director now directly owns 139,900 shares in the company, valued at $540,014. The disclosure for this sale can be found here. Insiders sold 236,000 shares of company stock worth $930,600 over the last ninety days. 12.43% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. boosted its holdings in Zynga by 453.4% in the third quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock valued at $26,866,000 after acquiring an additional 5,822,916 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Zynga by 33.4% in the second quarter. Renaissance Technologies LLC now owns 23,009,600 shares of the company’s stock valued at $83,755,000 after acquiring an additional 5,759,000 shares in the last quarter. Telemark Asset Management LLC bought a new stake in Zynga in the third quarter valued at $18,900,000. River & Mercantile Asset Management LLP boosted its holdings in Zynga by 126.3% in the third quarter. River & Mercantile Asset Management LLP now owns 7,707,049 shares of the company’s stock valued at $29,171,000 after acquiring an additional 4,301,645 shares in the last quarter. Finally, First Quadrant L P CA boosted its holdings in Zynga by 164.3% in the third quarter. First Quadrant L P CA now owns 6,002,422 shares of the company’s stock valued at $22,689,000 after acquiring an additional 3,731,357 shares in the last quarter. 70.45% of the stock is currently owned by institutional investors.
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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.