Zynga (ZNGA) PT Raised to $4.00 at Credit Suisse Group

Zynga (NASDAQ:ZNGA) had its price objective hoisted by analysts at Credit Suisse Group from $3.80 to $4.00 in a research report issued on Thursday. The firm presently has an “underperform” rating on the stock. Credit Suisse Group’s target price suggests a potential upside of 8.40% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Wedbush set a $6.00 price target on shares of Zynga and gave the stock a “buy” rating in a report on Thursday. Cowen restated a “buy” rating and issued a $4.50 price target on shares of Zynga in a report on Thursday, October 12th. KeyCorp restated a “hold” rating on shares of Zynga in a report on Tuesday, October 17th. BidaskClub cut shares of Zynga from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research cut shares of Zynga from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.19.

Shares of Zynga (ZNGA) remained flat at $$3.69 on Thursday. 14,845,269 shares of the company’s stock traded hands, compared to its average volume of 13,739,955. Zynga has a 12-month low of $2.40 and a 12-month high of $4.34. The firm has a market cap of $3,107.84, a PE ratio of -184.50, a P/E/G ratio of 2.62 and a beta of 0.51.

In other Zynga news, COO Matthew S. Bromberg sold 50,000 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $3.95, for a total transaction of $197,500.00. Following the transaction, the chief operating officer now directly owns 294,206 shares in the company, valued at approximately $1,162,113.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $3.74, for a total transaction of $44,880.00. Following the transaction, the director now owns 247,900 shares in the company, valued at $927,146. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,000 shares of company stock worth $1,007,560. 12.43% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of ZNGA. World Asset Management Inc grew its holdings in Zynga by 0.4% during 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. Bourgeon Capital Management LLC grew its holdings in Zynga by 147.1% during the 4th quarter. Bourgeon Capital Management LLC now owns 25,200 shares of the company’s stock worth $101,000 after acquiring an additional 15,000 shares in the last quarter. Princeton Portfolio Strategies Group LLC grew its holdings in Zynga by 43.6% during the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock worth $102,000 after acquiring an additional 10,900 shares in the last quarter. Acadian Asset Management LLC bought a new position in Zynga during the 3rd quarter worth about $105,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Zynga by 23.2% in 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. Institutional investors own 70.21% of the company’s stock.

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About Zynga

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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