Zynga (ZNGA) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Zynga (NASDAQ:ZNGA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Other analysts also recently issued reports about the stock. ValuEngine raised shares of Zynga from a hold rating to a buy rating in a report on Monday, May 7th. Wedbush reaffirmed a buy rating and set a $6.00 price objective on shares of Zynga in a report on Monday, April 30th. Jefferies Financial Group reaffirmed a buy rating and set a $5.00 price objective on shares of Zynga in a report on Friday, May 11th. Benchmark reaffirmed a buy rating and set a $5.00 price objective (up from $4.36) on shares of Zynga in a report on Thursday, May 31st. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $5.00 price objective on shares of Zynga in a report on Tuesday, May 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Zynga currently has an average rating of Hold and a consensus target price of $4.47.

ZNGA stock opened at $4.22 on Wednesday. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 140.67, a price-to-earnings-growth ratio of 2.31 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 posted its earnings results on Wednesday, May 2nd. The company reported $0.02 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $208.23 million during the quarter, compared to the consensus estimate of $204.05 million. Zynga had a net margin of 4.77% and a return on equity of 2.57%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. sell-side analysts predict that Zynga will post 0.08 EPS for the current fiscal year.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $4.11, for a total transaction of $49,320.00. Following the completion of the transaction, the director now directly owns 234,743 shares in the company, valued at approximately $964,793.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 20,000 shares of the company’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 transaction, the chief operating officer now owns 340,056 shares of the company’s stock, valued at $1,213,999.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,000 shares of company stock valued at $208,560. Corporate insiders own 11.87% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA raised its stake in Zynga by 7.3% during the 1st quarter. Federated Investors Inc. PA now owns 204,096 shares of the company’s stock valued at $747,000 after purchasing an additional 13,815 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Zynga by 13.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 128,700 shares of the company’s stock valued at $471,000 after buying an additional 15,000 shares in the last quarter. Sawtooth Solutions LLC raised its stake in shares of Zynga by 98.6% in the 4th quarter. Sawtooth Solutions LLC now owns 36,515 shares of the company’s stock valued at $146,000 after buying an additional 18,131 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Zynga by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 1,293,875 shares of the company’s stock valued at $5,176,000 after buying an additional 27,744 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Zynga by 2.3% in the 1st quarter. Swiss National Bank now owns 1,353,153 shares of the company’s stock valued at $4,953,000 after buying an additional 30,200 shares in the last quarter. Hedge funds and other institutional investors own 70.73% of the company’s stock.

About Zynga

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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply