Zynga Inc (NASDAQ:ZNGA)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.74, but opened at $5.87. Zynga shares last traded at $6.04, with a volume of 15,357,485 shares trading hands.

ZNGA has been the subject of several research analyst reports. Stephens upgraded shares of Zynga from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $6.50 to $8.25 in a research report on Thursday, May 30th. Bank of America lifted their target price on shares of Zynga from $6.60 to $6.70 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley set a $7.00 target price on shares of Zynga and gave the company a “buy” rating in a research report on Monday, July 15th. ValuEngine upgraded shares of Zynga from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Finally, Jefferies Financial Group initiated coverage on shares of Zynga in a research report on Thursday, July 11th. They set a “buy” rating and a $7.50 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $6.82.

The stock has a market capitalization of $5.53 billion, a P/E ratio of 306.00, a price-to-earnings-growth ratio of 3.00 and a beta of 0.31. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average price is $5.85 and its two-hundred day moving average price is $5.85.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The business had revenue of $306.50 million during the quarter, compared to the consensus estimate of $293.18 million. Zynga had a negative return on equity of 10.42% and a negative net margin of 16.50%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. As a group, analysts expect that Zynga Inc will post 0.13 earnings per share for the current fiscal year.

In other news, COO Matthew S. Bromberg sold 41,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $5.68, for a total value of $235,720.00. Following the completion of the sale, the chief operating officer now directly owns 631,458 shares in the company, valued at approximately $3,586,681.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Zynga by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 74,896,553 shares of the company’s stock worth $459,116,000 after acquiring an additional 1,274,882 shares during the last quarter. BlackRock Inc. increased its stake in shares of Zynga by 1.1% in the first quarter. BlackRock Inc. now owns 67,298,044 shares of the company’s stock worth $358,697,000 after buying an additional 708,261 shares during the period. First Trust Advisors LP increased its stake in shares of Zynga by 13.0% in the first quarter. First Trust Advisors LP now owns 25,671,314 shares of the company’s stock worth $136,828,000 after buying an additional 2,958,148 shares during the period. Renaissance Technologies LLC increased its stake in shares of Zynga by 1,172.6% in the second quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock worth $118,994,000 after buying an additional 17,886,400 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Zynga by 592.1% in the second quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock worth $118,283,000 after buying an additional 16,507,732 shares during the period. Hedge funds and other institutional investors own 71.26% of the company’s stock.

About Zynga (NASDAQ:ZNGA)

Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.

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