Consumer Edge assumed coverage on shares of Zynga (NASDAQ:ZNGA) in a research note released on Wednesday, January 3rd. The firm issued an overweight rating and a $4.50 price target on the stock.
Several other analysts have also commented on the company. Cowen reissued a buy rating and issued a $4.50 price objective on shares of Zynga in a report on Thursday, October 12th. Wedbush set a $5.00 price target on Zynga and gave the stock a buy rating in a research note on Wednesday, October 18th. Goldman Sachs Group initiated coverage on Zynga in a research note on Friday, September 8th. They set a neutral rating and a $3.90 price objective on the stock. Zacks Investment Research raised Zynga from a hold rating to a strong-buy rating and set a $4.50 price objective on the stock in a research note on Saturday, November 11th. Finally, BidaskClub downgraded Zynga from a buy rating to a hold rating in a research report on Wednesday, December 6th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Zynga presently has an average rating of Buy and an average target price of $4.14.
Zynga (NASDAQ:ZNGA) opened at $3.97 on Wednesday. Zynga has a 12 month low of $2.40 and a 12 month high of $4.34.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $211.98 million. Zynga had a negative return on equity of 1.37% and a negative net margin of 2.65%. Zynga’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the business earned ($0.05) earnings per share. research analysts anticipate that Zynga will post 0.02 EPS for the current fiscal year.
In related news, insider Bernard Jin Kim sold 50,000 shares of the company’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $3.94, for a total value of $197,000.00. Following the completion of the sale, the insider now directly owns 349,450 shares of the company’s stock, valued at approximately $1,376,833. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $3.86, for a total value of $46,320.00. Following the completion of the sale, the director now directly owns 139,900 shares of the company’s stock, valued at $540,014. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 236,000 shares of company stock valued at $930,600. Insiders own 12.43% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Zynga by 4.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock worth $274,000 after buying an additional 3,261 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Zynga by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock worth $162,000 after buying an additional 3,700 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Zynga by 3.6% during the 2nd quarter. Suntrust Banks Inc. now owns 134,728 shares of the company’s stock worth $490,000 after buying an additional 4,660 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Zynga by 23.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock worth $112,000 after buying an additional 5,815 shares in the last quarter. Finally, Utah Retirement Systems increased its stake in Zynga by 4.7% in the 2nd quarter. Utah Retirement Systems now owns 138,488 shares of the company’s stock valued at $505,000 after purchasing an additional 6,200 shares in the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.
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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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