Robert W. Baird reaffirmed their hold rating on shares of Zynga Inc. (NASDAQ:ZNGA) in a research report sent to investors on Friday morning. The brokerage currently has a $4.00 target price on the stock.
ZNGA has been the topic of a number of other research reports. Morgan Stanley restated an overweight rating and set a $3.70 price target on shares of Zynga in a research note on Saturday, July 22nd. Wedbush reiterated an outperform rating and issued a $4.65 target price (up previously from $4.25) on shares of Zynga in a research report on Monday, July 31st. Zacks Investment Research raised Zynga from a hold rating to a buy rating and set a $4.25 price target for the company in a report on Thursday, August 10th. Canaccord Genuity boosted their price target on Zynga from $3.00 to $3.50 and gave the company a hold rating in a report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) began coverage on Zynga in a report on Friday, September 8th. They issued a neutral rating and a $3.90 price target for the company. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $4.06.
Shares of Zynga (ZNGA) opened at 3.83 on Friday. Zynga has a 52-week low of $2.40 and a 52-week high of $4.02. The stock has a 50 day moving average of $3.67 and a 200-day moving average of $3.36. The stock’s market capitalization is $3.31 billion.
Zynga (NASDAQ:ZNGA) last released 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). The firm had revenue of $209.20 million during the quarter, compared to the consensus estimate of $201.64 million. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts predict that Zynga will post $0.10 EPS for the current fiscal year.
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In related news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $3.62, for a total transaction of $43,440.00. Following the completion of the transaction, the director now directly owns 158,478 shares of the company’s stock, valued at $573,690.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 36,000 shares of company stock worth $132,360. Company insiders own 12.43% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Zynga by 5,061.5% in the first quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock worth $102,420,000 after acquiring an additional 35,240,491 shares during the last quarter. Two Sigma Securities LLC increased its stake in Zynga by 103.1% in the first quarter. Two Sigma Securities LLC now owns 101,074 shares of the company’s stock valued at $288,000 after purchasing an additional 51,299 shares during the last quarter. Morgan Stanley increased its stake in Zynga by 30.4% in the first quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock valued at $78,186,000 after purchasing an additional 6,397,949 shares during the last quarter. Legal & General Group Plc increased its stake in Zynga by 454.0% in the second quarter. Legal & General Group Plc now owns 1,414,781 shares of the company’s stock valued at $5,110,000 after purchasing an additional 1,159,405 shares during the last quarter. Finally, UBS Group AG increased its stake in Zynga by 1.2% in the first quarter. UBS Group AG now owns 9,532,580 shares of the company’s stock valued at $27,168,000 after purchasing an additional 112,230 shares during the last quarter. 68.19% of the stock is owned by institutional investors.
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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