Analysts Set Zynga Inc. (ZNGA) PT at $4.08
Zynga Inc. (NASDAQ:ZNGA) has been given an average recommendation of “Buy” by the sixteen analysts that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.08.
Several research firms have recently issued reports on ZNGA. BidaskClub downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Zacks Investment Research downgraded shares of Zynga from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Wedbush set a $5.00 target price on shares of Zynga and gave the stock a “buy” rating in a research note on Wednesday, October 18th. KeyCorp reissued a “hold” rating on shares of Zynga in a research note on Tuesday, October 17th. Finally, Cowen reissued a “buy” rating and set a $4.50 target price on shares of Zynga in a research note on Thursday, October 12th.
Zynga (NASDAQ ZNGA) traded down $0.01 during mid-day trading on Monday, hitting $4.00. 6,485,898 shares of the stock traded hands, compared to its average volume of 10,530,723. Zynga has a 12-month low of $2.40 and a 12-month high of $4.34.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 net margin of 2.65% and a negative return on equity of 1.37%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) earnings per share. sell-side analysts forecast that Zynga will post 0.02 EPS for the current fiscal year.
In related news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $3.79, for a total transaction of $45,480.00. Following the completion of the transaction, the director now owns 122,478 shares of the company’s stock, valued at $464,191.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.43% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of ZNGA. World Asset Management Inc grew its holdings in Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after purchasing an additional 98 shares during the period. The Manufacturers Life Insurance Company grew 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 worth $112,000 after purchasing an additional 5,815 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Zynga in the third quarter worth $150,000. Timber Hill LLC grew its holdings in Zynga by 49.0% in the second quarter. Timber Hill LLC now owns 44,446 shares of the company’s stock worth $162,000 after purchasing an additional 14,616 shares during the period. Finally, Prudential Financial Inc. grew its holdings in Zynga by 9.1% in the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock worth $162,000 after purchasing an additional 3,700 shares during the period. Institutional investors and hedge funds own 70.49% 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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