Zynga (NASDAQ:ZNGA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
ZNGA has been the subject of several other reports. Zacks Investment Research downgraded Zynga from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Wedbush set a $6.00 price objective on Zynga and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Jefferies Financial Group restated a “buy” rating and set a $5.00 price objective on shares of Zynga in a research report on Friday, May 11th. Piper Jaffray Companies restated an “overweight” rating and set a $5.00 price objective on shares of Zynga in a research report on Tuesday, May 29th. Finally, ValuEngine upgraded Zynga from a “hold” rating to a “buy” rating in a research report on Monday, May 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $4.47.
Shares of NASDAQ:ZNGA opened at $4.40 on Wednesday. The company has a market cap of $3.68 billion, a PE ratio of 145.67, a PEG ratio of 2.36 and a beta of 0.56. Zynga has a 12 month low of $3.20 and a 12 month high of $4.57.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Zynga had a return on equity of 2.57% and a net margin of 4.77%. The firm had revenue of $208.23 million during the quarter, compared to the consensus estimate of $204.05 million. During the same period in the previous year, the firm posted ($0.01) EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. research analysts expect that Zynga will post 0.08 earnings per share for the current fiscal year.
In other news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $3.80, for a total transaction of $45,600.00. Following the completion of the sale, the director now directly owns 241,321 shares of the company’s stock, valued at approximately $917,019.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew S. Bromberg sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $3.57, for a total transaction of $71,400.00. Following the sale, the chief operating officer now directly owns 340,056 shares of the company’s stock, valued at $1,213,999.92. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $208,560 over the last three months. Corporate insiders own 11.87% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Zynga by 37.0% during the 1st quarter. BlackRock Inc. now owns 44,372,272 shares of the company’s stock valued at $162,402,000 after buying an additional 11,993,435 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Zynga by 103.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 38,005,725 shares of the company’s stock valued at $139,101,000 after buying an additional 19,341,666 shares during the period. OppenheimerFunds Inc. boosted its position in Zynga by 111.8% during the 4th quarter. OppenheimerFunds Inc. now owns 20,071,799 shares of the company’s stock worth $80,287,000 after purchasing an additional 10,596,901 shares during the period. Point72 Asset Management L.P. boosted its position in Zynga by 276.2% during the 1st quarter. Point72 Asset Management L.P. now owns 15,963,897 shares of the company’s stock worth $58,428,000 after purchasing an additional 11,720,451 shares during the period. Finally, First Trust Advisors LP boosted its position in Zynga by 17.1% during the 4th quarter. First Trust Advisors LP now owns 15,438,848 shares of the company’s stock worth $61,755,000 after purchasing an additional 2,250,446 shares during the period. 70.56% of the stock is owned by institutional investors.
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.
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