Zynga (ZNGA) Stock Rating Lowered by Zacks Investment Research

Zynga (NASDAQ:ZNGA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Saturday, January 13th.

According to Zacks, “Zynga Inc. is the world’s largest social game developer with users playing their games which include CityVille, FarmVille, FrontierVille, Words With Friends, Mafia Wars, Zynga Poker, Cafe World, and Treasure Isle. Zynga Inc. games are available on a number of global platforms including Facebook, MySpace, Yahoo, the iPad, the iPhone and Android devices. They operate their games as live services, by which they mean that they continue to support and update games after launch and gather daily, metrics-based player feedback that enable them to continually enhance their games by adding new content and features. All of their games are free to play, and they generate revenue through the in-game sale of virtual goods and advertising. “

Other equities research analysts have also issued reports about the stock. Cowen reissued a “buy” rating and set a $4.50 target price on shares of Zynga in a report on Thursday, October 12th. Wedbush set a $5.00 price target on shares of Zynga and gave the stock a “buy” rating in a research report on Wednesday, October 18th. BidaskClub downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. KeyCorp reiterated a “hold” rating on shares of Zynga in a research report on Tuesday, October 17th. Finally, Consumer Edge started coverage on shares of Zynga in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $4.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $4.14.

Shares of Zynga (ZNGA) opened at $3.72 on Friday. Zynga has a 12 month low of $2.40 and a 12 month high of $4.34. The firm has a market cap of $3,240.00, a PE ratio of -124.00, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76.

Zynga (NASDAQ:ZNGA) last released its earnings results on Tuesday, November 7th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $224.60 million for the quarter, compared to analyst estimates of $211.98 million. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. equities research analysts expect that Zynga will post 0.02 earnings per share for the current year.

In related news, COO Matthew S. Bromberg sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $3.95, for a total value of $197,500.00. Following the sale, the chief operating officer now directly owns 294,206 shares of the company’s stock, valued at $1,162,113.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $3.86, for a total transaction of $46,320.00. Following the completion of the sale, the director now directly owns 139,900 shares in the company, valued at $540,014. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,000 shares of company stock worth $1,009,000. Insiders own 12.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ZNGA. Schwab Charles Investment Management Inc. grew its holdings in shares of Zynga by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,698,821 shares of the company’s stock worth $9,824,000 after purchasing an additional 31,210 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Zynga by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 2,643,858 shares of the company’s stock worth $9,624,000 after purchasing an additional 101,214 shares during the last quarter. Comerica Bank grew its holdings in shares of Zynga by 914.3% in the second quarter. Comerica Bank now owns 306,032 shares of the company’s stock worth $1,148,000 after purchasing an additional 275,860 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Zynga by 5.2% in the second quarter. Federated Investors Inc. PA now owns 157,472 shares of the company’s stock worth $573,000 after purchasing an additional 7,778 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Zynga by 9.1% in the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 70.46% of the company’s stock.

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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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