Brokerages Set Zynga Inc. (ZNGA) Target Price at $3.33
Zynga Inc. (NASDAQ:ZNGA) has earned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.33.
A number of brokerages recently weighed in on ZNGA. Zacks Investment Research downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research report on Wednesday. Pacific Crest reaffirmed a “hold” rating on shares of Zynga in a research report on Friday, August 5th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Zynga in a research report on Saturday, August 6th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Zynga in a research report on Thursday, November 3rd. Finally, Cowen and Company raised shares of Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 price objective for the company in a research report on Wednesday, August 3rd.
Shares of Zynga (NASDAQ:ZNGA) opened at 2.86 on Monday. The firm’s market capitalization is $2.55 billion. The stock’s 50 day moving average is $2.84 and its 200-day moving average is $2.75. Zynga has a 52-week low of $1.78 and a 52-week high of $3.04.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.06. The company earned $182.40 million during the quarter, compared to analyst estimates of $187.23 million. Zynga had a negative net margin of 16.24% and a negative return on equity of 4.89%. The business’s revenue was down 6.8% on a year-over-year basis. On average, equities analysts forecast that Zynga will post $0.03 earnings per share for the current fiscal year.
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In related news, SVP Devang Shah sold 40,821 shares of the stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $2.81, for a total transaction of $114,707.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Eminence Capital LP raised its stake in Zynga by 0.6% in the second quarter. Eminence Capital LP now owns 55,589,375 shares of the company’s stock valued at $138,418,000 after buying an additional 350,100 shares in the last quarter. Vanguard Group Inc. raised its stake in Zynga by 1.6% in the second quarter. Vanguard Group Inc. now owns 50,514,335 shares of the company’s stock valued at $125,782,000 after buying an additional 815,583 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Zynga by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 35,369,450 shares of the company’s stock valued at $88,067,000 after buying an additional 5,037,324 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Zynga by 3.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 19,206,727 shares of the company’s stock valued at $55,892,000 after buying an additional 596,331 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in Zynga by 48.2% in the third quarter. DnB Asset Management AS now owns 18,353,886 shares of the company’s stock valued at $53,593,000 after buying an additional 5,969,750 shares in the last quarter. 60.60% of the stock is owned by institutional investors and hedge funds.
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) and Android and social networking sites, such as Facebook. The Company operates through developing and monetizing social games segment.
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