KeyCorp restated their hold rating on shares of Zynga Inc. (NASDAQ:ZNGA) in a report published on Tuesday, October 17th.
A number of other analysts have also issued reports on the stock. Benchmark Co. reiterated a buy rating and set a $4.35 price target (up from $3.65) on shares of Zynga in a research note on Wednesday, August 9th. Cowen and Company upped their price target on Zynga from $4.25 to $4.50 and gave the company an outperform rating in a report on Friday, June 23rd. Wedbush reaffirmed an outperform rating and set a $4.65 price target (up from $4.25) on shares of Zynga in a report on Wednesday, August 9th. BidaskClub raised Zynga from a hold rating to a buy rating in a report on Wednesday, August 23rd. Finally, Robert W. Baird reiterated a hold rating and issued a $4.00 price objective on shares of Zynga in a research report on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Zynga currently has a consensus rating of Buy and an average target price of $4.09.
Zynga (NASDAQ ZNGA) traded up 0.027% on Tuesday, reaching $3.731. 3,091,047 shares of the company traded hands. The stock’s 50-day moving average is $3.80 and its 200-day moving average is $3.55. The stock’s market capitalization is $3.23 billion. Zynga has a 1-year low of $2.40 and a 1-year high of $4.02.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The firm had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. Zynga’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that Zynga will post $0.10 EPS for the current year.
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In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $3.79, for a total value of $45,480.00. Following the completion of the transaction, the director now owns 122,478 shares of the company’s stock, valued at approximately $464,191.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 36,000 shares of company stock valued at $134,160. Insiders own 12.43% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. World Asset Management Inc increased its holdings in Zynga by 0.4% during the 2nd quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock valued at $101,000 after purchasing an additional 98 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Zynga by 0.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 184,005 shares of the company’s stock valued at $670,000 after buying an additional 820 shares during the last quarter. Principal Financial Group Inc. boosted its position in Zynga by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 92,862 shares of the company’s stock valued at $265,000 after buying an additional 2,540 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Zynga by 4.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 63,571 shares of the company’s stock worth $231,000 after purchasing an additional 2,941 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Zynga by 4.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock worth $274,000 after purchasing an additional 3,261 shares during the last quarter. 68.37% 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.
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