Zynga (ZNGA) Lifted to “Buy” at ValuEngine

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ValuEngine upgraded shares of Zynga (NASDAQ:ZNGA) from a hold rating to a buy rating in a research report report published on Wednesday.

Several other research analysts have also weighed in on ZNGA. Barclays initiated coverage on Zynga in a research report on Thursday, August 9th. They set an underweight rating and a $3.70 price target on the stock. BidaskClub lowered Zynga from a sell rating to a strong sell rating in a research report on Friday, August 17th. Stifel Nicolaus initiated coverage on Zynga in a research report on Thursday, September 27th. They set a buy rating and a $5.00 price target on the stock. Jefferies Financial Group reissued a buy rating and set a $5.25 price target on shares of Zynga in a research report on Thursday, October 11th. Finally, Wedbush reissued a buy rating and set a $6.00 price target on shares of Zynga in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Zynga has an average rating of Buy and an average price target of $4.85.

Shares of NASDAQ ZNGA opened at $3.60 on Wednesday. The firm has a market cap of $3.13 billion, a PE ratio of 121.00, a P/E/G ratio of 1.73 and a beta of 0.33. Zynga has a 12 month low of $3.20 and a 12 month high of $4.57.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $233.24 million for the quarter, compared to analyst estimates of $224.54 million. Zynga had a return on equity of 1.89% and a net margin of 3.12%. Zynga’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Zynga will post 0.09 EPS for the current year.

In other Zynga news, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $4.12, for a total value of $170,980.00. Following the transaction, the chief operating officer now directly owns 485,294 shares of the company’s stock, valued at approximately $1,999,411.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $3.52, for a total value of $42,240.00. Following the completion of the transaction, the director now directly owns 191,812 shares in the company, valued at $675,178.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 584,322 shares of company stock worth $2,201,476. Insiders own 11.87% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Zynga by 19.0% in the 3rd quarter. BlackRock Inc. now owns 72,114,183 shares of the company’s stock worth $289,178,000 after purchasing an additional 11,520,469 shares during the last quarter. Vanguard Group Inc. increased its position in Zynga by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 65,906,089 shares of the company’s stock worth $264,283,000 after purchasing an additional 1,082,874 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Zynga by 4.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 39,695,436 shares of the company’s stock worth $161,560,000 after purchasing an additional 1,689,711 shares during the last quarter. Iridian Asset Management LLC CT acquired a new position in Zynga in the 3rd quarter worth about $153,074,000. Finally, Cadian Capital Management LP increased its position in Zynga by 38.1% in the 2nd quarter. Cadian Capital Management LP now owns 21,150,000 shares of the company’s stock worth $86,081,000 after purchasing an additional 5,835,562 shares during the last quarter. 78.92% of the stock is currently owned by institutional investors.

Zynga Company Profile

Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems With Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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