Zynga Inc. (ZNGA) Earns Neutral Rating from Analysts at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) started coverage on shares of Zynga Inc. (NASDAQ:ZNGA) in a report published on Friday, Marketbeat.com reports. The firm issued a neutral rating and a $3.90 price objective on the stock.
ZNGA has been the topic of a number of other reports. Cowen and Company increased their price target on shares of Zynga from $4.25 to $4.50 and gave the company an outperform rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Zynga from a hold rating to a buy rating and set a $4.25 price target on the stock in a research report on Thursday, August 10th. Jefferies Group LLC reiterated a buy rating and issued a $5.00 price target on shares of Zynga in a research report on Monday, May 15th. Wedbush reiterated an outperform rating and issued a $4.65 price target (up from $4.25) on shares of Zynga in a research report on Monday, July 31st. Finally, Piper Jaffray Companies upgraded shares of Zynga from a neutral rating to an overweight rating and increased their price target for the company from $3.00 to $4.00 in a research report on Tuesday, May 30th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $4.00.
Shares of Zynga (NASDAQ ZNGA) opened at 3.68 on Friday. 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. The stock’s 50 day moving average is $3.66 and its 200-day moving average is $3.30.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.01. The business 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 firm’s revenue was up 15.1% on a year-over-year basis. On average, analysts anticipate that Zynga will post $0.09 EPS for the current fiscal year.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $3.77, for a total value of $45,240.00. Following the completion of the transaction, the director now directly owns 134,478 shares of the company’s stock, valued at $506,982.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 36,000 shares of company stock valued at $132,360 over the last three months. 12.43% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Zynga by 0.3% in the second quarter. Vanguard Group Inc. now owns 60,801,279 shares of the company’s stock valued at $221,316,000 after buying an additional 164,384 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Zynga by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 53,752,591 shares of the company’s stock worth $153,195,000 after purchasing an additional 5,142,597 shares during the period. BlackRock Inc. boosted its position in Zynga by 5,061.5% during the first quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock worth $102,420,000 after purchasing an additional 35,240,491 shares during the period. Morgan Stanley boosted its position in Zynga by 30.4% during the first quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock worth $78,186,000 after purchasing an additional 6,397,949 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Zynga by 33.4% during the second quarter. Renaissance Technologies LLC now owns 23,009,600 shares of the company’s stock worth $83,755,000 after purchasing an additional 5,759,000 shares during the period. 68.19% 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) 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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