Zynga Inc (ZNGA) Given Average Recommendation of “Buy” by Brokerages

Zynga Inc (NASDAQ:ZNGA) has received a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.11.

Several analysts recently weighed in on the stock. BidaskClub cut shares of Zynga from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Zacks Investment Research cut shares of Zynga from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. KeyCorp reissued a “hold” rating on shares of Zynga in a research note on Tuesday, October 17th. Consumer Edge assumed coverage on shares of Zynga in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 price objective on the stock. Finally, Wedbush set a $5.00 price objective on shares of Zynga and gave the stock a “buy” rating in a research note on Wednesday, October 18th.

Shares of Zynga (NASDAQ:ZNGA) traded down $0.07 during trading hours on Tuesday, hitting $3.60. 11,949,653 shares of the stock traded hands, compared to its average volume of 13,738,966. The firm has a market capitalization of $3,130.00, a P/E ratio of -119.33, a PEG ratio of 2.74 and a beta of 0.76. Zynga has a 52 week low of $2.40 and a 52 week high of $4.34.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $211.98 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Zynga’s revenue for the quarter was up 23.1% on a year-over-year basis. research analysts predict that Zynga will post 0.02 earnings per share for the current year.

In other Zynga news, insider Bernard Jin Kim sold 50,000 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $3.94, for a total transaction of $197,000.00. Following the sale, the insider now owns 349,450 shares of the company’s stock, valued at $1,376,833. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $3.97, for a total transaction of $47,640.00. The disclosure for this sale can be found here. Insiders have sold 268,000 shares of company stock worth $1,053,880 in the last ninety days. Insiders own 12.43% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in Zynga by 4.5% during the second quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock valued at $274,000 after acquiring an additional 3,261 shares during the last quarter. Prudential Financial Inc. boosted its position in Zynga by 9.1% during 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 during the last quarter. Suntrust Banks Inc. boosted its position in Zynga by 3.6% during the second quarter. Suntrust Banks Inc. now owns 134,728 shares of the company’s stock valued at $490,000 after acquiring an additional 4,660 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Zynga by 23.2% during the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after acquiring an additional 5,815 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Zynga by 21.2% during the second quarter. Principal Financial Group Inc. now owns 112,517 shares of the company’s stock valued at $410,000 after acquiring an additional 19,655 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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About Zynga

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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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