Shares of Zynga Inc. (NASDAQ:ZNGA) have earned an average rating of “Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.93.
Several equities analysts have weighed in on the company. Piper Jaffray Companies restated a “hold” rating and set a $3.00 price objective on shares of Zynga in a research note on Friday, May 5th. Cowen and Company raised their price objective on Zynga from $4.25 to $4.50 and gave the company an “outperform” rating in a research note on Friday, June 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $5.00 target price on shares of Zynga in a research note on Monday, May 15th. Wedbush reiterated an “outperform” rating and set a $4.65 target price (up from $4.25) on shares of Zynga in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Zynga from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research note on Wednesday, May 10th.
In other Zynga news, Director William B. Gordon sold 549,637 shares of Zynga stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $3.52, for a total transaction of $1,934,722.24. Following the completion of the transaction, the director now owns 832,603 shares of the company’s stock, valued at approximately $2,930,762.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $3.56, for a total value of $42,720.00. Following the transaction, the director now directly owns 153,057 shares of the company’s stock, valued at approximately $544,882.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,818,010 shares of company stock valued at $6,377,868. 12.43% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. World Asset Management Inc raised its position 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 buying an additional 98 shares during the last quarter. Princeton Portfolio Strategies Group LLC raised its position in Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock worth $102,000 after buying an additional 10,900 shares during the last quarter. HighTower Advisors LLC bought a new position in Zynga during the first quarter worth $116,000. Prudential Financial Inc. raised its position 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 buying an additional 3,700 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Zynga by 132.3% in the fourth quarter. GSA Capital Partners LLP now owns 57,935 shares of the company’s stock worth $149,000 after buying an additional 32,994 shares during the last quarter. 66.31% of the stock is owned by institutional investors and hedge funds.
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Zynga (NASDAQ:ZNGA) opened at 3.71 on Friday. The company’s 50-day moving average is $3.65 and its 200-day moving average is $3.12. The firm’s market capitalization is $3.20 billion. Zynga has a one year low of $2.40 and a one year high of $3.86.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.01. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The company had revenue of $209.20 million for the quarter, compared to the consensus estimate of $201.64 million. The business’s revenue was up 15.1% on a year-over-year basis. Equities analysts forecast that Zynga will post $0.10 earnings per share for the current fiscal year.
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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