Zynga (ZNGA) Cut to Sell at BidaskClub

Zynga (NASDAQ:ZNGA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

ZNGA has been the subject of several other research reports. Wedbush set a $5.00 target price on Zynga and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Cowen reissued a “buy” rating and set a $4.50 target price on shares of Zynga in a research note on Thursday, October 12th. Zacks Investment Research raised Zynga from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective for the company in a research note on Saturday, November 11th. Consumer Edge started coverage on Zynga in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 price objective for the company. Finally, KeyCorp reaffirmed a “hold” rating on shares of Zynga in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $4.14.

Zynga (ZNGA) opened at $3.72 on Friday. The company has a market capitalization of $3,240.00, a PE ratio of -124.00, a price-to-earnings-growth ratio of 2.79 and a beta of 0.76. Zynga has a 52 week low of $2.40 and a 52 week high of $4.34.

Zynga (NASDAQ:ZNGA) last issued its earnings results on Tuesday, November 7th. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $224.60 million during the quarter, compared to the consensus estimate of $211.98 million. Zynga had a negative return on equity of 1.37% and a negative net margin of 2.65%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. equities research analysts anticipate that Zynga will post 0.02 earnings per share for the current fiscal year.

In related news, COO Matthew S. Bromberg sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $3.92, for a total value of $78,400.00. Following the sale, the chief operating officer now directly owns 274,206 shares in the company, valued at $1,074,887.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $3.86, for a total value of $46,320.00. Following the completion of the sale, the director now owns 139,900 shares in the company, valued at $540,014. The disclosure for this sale can be found here. Insiders sold 256,000 shares of company stock worth $1,009,000 over the last quarter. 12.43% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Zynga by 4.5% in the second quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock valued at $274,000 after acquiring an additional 3,261 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Zynga by 9.1% in the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after acquiring an additional 3,700 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in Zynga by 3.6% in the second quarter. Suntrust Banks Inc. now owns 134,728 shares of the company’s stock valued at $490,000 after acquiring an additional 4,660 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in 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 acquiring an additional 5,815 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Zynga by 21.2% in the second quarter. Principal Financial Group Inc. now owns 112,517 shares of the company’s stock valued at $410,000 after acquiring an additional 19,655 shares during the last quarter. Institutional investors and hedge funds own 70.46% 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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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