Zynga Inc (ZNGA) Sees Large Increase in Short Interest
Zynga Inc (NASDAQ:ZNGA) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 9,773,911 shares, an increase of 20.5% from the February 15th total of 8,112,243 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 9,296,841 shares, the days-to-cover ratio is currently 1.1 days.
Shares of Zynga (NASDAQ ZNGA) opened at $3.72 on Friday. Zynga has a 52 week low of $2.71 and a 52 week high of $4.34. The firm has a market capitalization of $3,250.00, a P/E ratio of 124.00, a P/E/G ratio of 2.70 and a beta of 0.52.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Zynga had a net margin of 3.09% and a return on equity of 1.66%. The business had revenue of $233.30 million for the quarter, compared to the consensus estimate of $218.64 million. During the same quarter in the previous year, the company earned ($0.04) EPS. Zynga’s revenue for the quarter was up 22.5% compared to the same quarter last year. equities analysts forecast that Zynga will post 0.06 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. OppenheimerFunds Inc. raised its holdings in Zynga by 111.8% in the 4th quarter. OppenheimerFunds Inc. now owns 20,071,799 shares of the company’s stock valued at $80,287,000 after acquiring an additional 10,596,901 shares in the last quarter. First Trust Advisors LP raised its holdings in Zynga by 17.1% in the 4th quarter. First Trust Advisors LP now owns 15,438,848 shares of the company’s stock valued at $61,755,000 after acquiring an additional 2,250,446 shares in the last quarter. Teachers Advisors LLC raised its holdings in Zynga by 287.4% in the 4th quarter. Teachers Advisors LLC now owns 13,288,462 shares of the company’s stock valued at $53,154,000 after acquiring an additional 9,858,450 shares in the last quarter. American Century Companies Inc. raised its holdings in Zynga by 40.7% in the 4th quarter. American Century Companies Inc. now owns 13,040,309 shares of the company’s stock valued at $52,161,000 after acquiring an additional 3,774,156 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in Zynga by 453.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock valued at $26,866,000 after acquiring an additional 5,822,916 shares in the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Several analysts have recently issued reports on ZNGA shares. BidaskClub upgraded Zynga from a “strong sell” rating to a “sell” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded Zynga from a “hold” rating to a “strong-buy” rating and set a $4.50 price target for the company in a research note on Saturday, November 11th. Credit Suisse Group upped their price target on Zynga from $3.80 to $4.00 and gave the stock an “underperform” rating in a research note on Thursday, February 8th. Wedbush set a $6.00 price target on Zynga and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Consumer Edge started coverage on Zynga in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $4.50 price target for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.24.
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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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