Jefferies Group Reaffirms Buy Rating for Zynga (ZNGA)

Zynga (NASDAQ:ZNGA)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a report issued on Sunday. They currently have a $5.00 price target on the stock. Jefferies Group’s target price points to a potential upside of 51.06% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Credit Suisse Group lifted their target price on Zynga from $3.80 to $4.00 and gave the company an “underperform” rating in a research report on Thursday. Wedbush set a $6.00 target price on Zynga and gave the company a “buy” rating in a research report on Thursday. BidaskClub raised Zynga from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 6th. Zacks Investment Research downgraded Zynga from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, Consumer Edge initiated coverage on Zynga in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $4.50 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Zynga presently has an average rating of “Hold” and an average price target of $4.19.

Shares of Zynga (NASDAQ:ZNGA) traded down $0.18 during trading on Friday, hitting $3.31. The stock had a trading volume of 34,158,025 shares, compared to its average volume of 16,388,898. The company has a market capitalization of $2,881.50, a price-to-earnings ratio of 110.37, a price-to-earnings-growth ratio of 2.43 and a beta of 0.51. Zynga has a 12 month low of $2.40 and a 12 month high of $4.34.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The firm had revenue of $233.30 million during the quarter, compared to the consensus estimate of $218.64 million. Zynga had a net margin of 3.09% and a return on equity of 1.66%. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. equities analysts forecast that Zynga will post 0.05 earnings per share for the current year.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $3.97, for a total value of $47,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew S. Bromberg sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $3.95, for a total value of $197,500.00. Following the completion of the sale, the chief operating officer now owns 294,206 shares of the company’s stock, valued at $1,162,113.70. The disclosure for this sale can be found here. Insiders sold 256,000 shares of company stock worth $1,007,560 in the last ninety days. 12.43% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Zynga by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,856,919 shares of the company’s stock worth $11,427,000 after purchasing an additional 77,911 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Zynga during the fourth quarter worth $14,508,000. Wells Fargo & Company MN lifted its stake in Zynga by 98.3% during the fourth quarter. Wells Fargo & Company MN now owns 868,015 shares of the company’s stock worth $3,473,000 after purchasing an additional 430,384 shares during the last quarter. First Trust Advisors LP lifted its stake in Zynga by 17.1% during the fourth quarter. First Trust Advisors LP now owns 15,438,848 shares of the company’s stock worth $61,755,000 after purchasing an additional 2,250,446 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Zynga by 2.8% during the fourth quarter. Swiss National Bank now owns 1,322,953 shares of the company’s stock worth $5,292,000 after purchasing an additional 36,100 shares during the last quarter. Institutional investors and hedge funds 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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