Zynga Inc. (NASDAQ:ZNGA) had its price target raised by Bank of America Corporation from $2.50 to $3.25 in a report published on Monday, May 15th, StockTargetPrices.com reports.

A number of other brokerages also recently commented on ZNGA. Zacks Investment Research raised Zynga from a hold rating to a buy rating and set a $3.75 price target for the company in a research report on Wednesday, May 10th. Canaccord Genuity reaffirmed a hold rating and set a $3.00 price target on shares of Zynga in a research report on Friday, May 5th. Piper Jaffray Companies reaffirmed a hold rating and set a $3.00 price target on shares of Zynga in a research report on Friday, May 5th. Benchmark Co. reissued a buy rating and issued a $3.65 target price on shares of Zynga in a research report on Friday, May 5th. Finally, Cowen and Company reissued an outperform rating and issued a $3.50 target price on shares of Zynga in a research report on Friday, May 5th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $3.93.

Shares of Zynga (ZNGA) traded up 1.10% during trading on Monday, reaching $3.69. The company’s stock had a trading volume of 17,888,244 shares. Zynga has a 52 week low of $2.27 and a 52 week high of $3.82. The company’s market cap is $3.17 billion. The stock’s 50 day moving average price is $3.41 and its 200 day moving average price is $2.90.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The company had revenue of $194.30 million during the quarter, compared to the consensus estimate of $188.14 million. Zynga had a negative return on equity of 5.25% and a negative net margin of 12.16%. Zynga’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts predict that Zynga will post $0.09 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Zynga Inc. (ZNGA) Price Target Raised to $3.25 at Bank of America Corporation” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/06/16/bank-of-america-corp-increases-zynga-inc-znga-price-target-to-3-25-updated-updated-updated.html.

In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $2.84, for a total transaction of $34,080.00. Following the completion of the sale, the director now owns 157,973 shares of the company’s stock, valued at $448,643.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William B. Gordon sold 1,232,373 shares of Zynga stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $3.50, for a total value of $4,313,305.50. Following the sale, the director now directly owns 832,603 shares of the company’s stock, valued at approximately $2,914,110.50. The disclosure for this sale can be found here. Insiders have sold 1,837,220 shares of company stock valued at $6,412,191 in the last three months. 12.43% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Princeton Portfolio Strategies Group LLC raised its stake in shares of Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after buying an additional 10,900 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Zynga during the first quarter valued at about $116,000. WFG Advisors LP raised its stake in shares of Zynga by 21,355.0% in the fourth quarter. WFG Advisors LP now owns 42,910 shares of the company’s stock valued at $5,050,000 after buying an additional 42,710 shares during the period. GSA Capital Partners LLP raised its stake in shares of Zynga by 132.3% in the fourth quarter. GSA Capital Partners LLP now owns 57,935 shares of the company’s stock valued at $149,000 after buying an additional 32,994 shares during the period. Finally, Clinton Group Inc. raised its stake in shares of Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock valued at $174,000 after buying an additional 423 shares during the period. 70.27% of the stock is owned by hedge funds and other institutional investors.

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.

Stock Target Prices

Receive News & Stock Ratings for Zynga Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga Inc. and related stocks with our FREE daily email newsletter.