Shares of Zynga Inc. (NASDAQ:ZNGA) have received an average recommendation of “Buy” from the sixteen research firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.90.

Several analysts have recently weighed in on the company. Mizuho restated a “buy” rating and issued a $4.20 price objective (up previously from $3.50) on shares of Zynga in a report on Saturday, June 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $4.25 target price (up from $3.50) on shares of Zynga in a research report on Saturday, June 3rd. Morgan Stanley raised Zynga from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $3.00 to $4.50 in a research report on Thursday, June 8th. Zacks Investment Research lowered Zynga from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Finally, Piper Jaffray Companies raised Zynga from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $3.00 to $4.00 in a research report on Tuesday, May 30th.

In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $3.64, for a total value of $43,680.00. Following the transaction, the director now directly owns 141,057 shares of the company’s stock, valued at approximately $513,447.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William B. Gordon sold 549,637 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $3.52, for a total value of $1,934,722.24. Following the completion of the transaction, the director now directly owns 832,603 shares in the company, valued at $2,930,762.56. The disclosure for this sale can be found here. Insiders have sold 1,818,010 shares of company stock worth $6,369,348 over the last three months. 12.43% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position 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 valued at $102,420,000 after buying an additional 35,240,491 shares during the last quarter. Morgan Stanley raised its position in shares of 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 buying an additional 6,397,949 shares during the last quarter. Omega Advisors Inc. raised its position in shares of Zynga by 606.7% in the first quarter. Omega Advisors Inc. now owns 7,067,100 shares of the company’s stock valued at $20,141,000 after buying an additional 6,067,100 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Zynga by 10.2% in the first quarter. Vanguard Group Inc. now owns 60,636,895 shares of the company’s stock valued at $172,814,000 after buying an additional 5,635,406 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Zynga by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 53,752,591 shares of the company’s stock valued at $153,195,000 after buying an additional 5,142,597 shares during the last quarter. 66.00% of the stock is currently owned by institutional investors.

Shares of Zynga (NASDAQ:ZNGA) traded up 1.37% on Friday, hitting $3.70. The stock had a trading volume of 6,738,420 shares. The company’s 50-day moving average price is $3.63 and its 200 day moving average price is $3.04. The firm’s market cap is $3.18 billion. Zynga has a 12-month low of $2.40 and a 12-month high of $3.86.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $194.30 million during the quarter, compared to analyst estimates of $188.14 million. Zynga had a negative return on equity of 5.25% and a negative net margin of 12.16%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Zynga will post $0.09 earnings per share for the current fiscal year.

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About Zynga

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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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