Zynga (NASDAQ:ZNGA) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.
A number of other research analysts have also weighed in on ZNGA. BidaskClub lowered shares of Zynga from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays set a $3.40 price objective on shares of Zynga and gave the company an “underweight” rating in a research note on Thursday. Credit Suisse Group dropped their price objective on shares of Zynga from $4.90 to $4.50 and set an “underperform” rating on the stock in a research note on Thursday. Wedbush set a $6.00 price objective on shares of Zynga and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley raised their price objective on shares of Zynga from $4.50 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Zynga currently has an average rating of “Hold” and a consensus target price of $4.82.
Shares of Zynga stock traded up $0.02 during trading hours on Thursday, reaching $3.66. The company’s stock had a trading volume of 19,974,486 shares, compared to its average volume of 12,074,890. Zynga has a one year low of $3.20 and a one year high of $4.57. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 122.00, a price-to-earnings-growth ratio of 2.33 and a beta of 0.27.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, October 31st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Zynga had a net margin of 4.04% and a return on equity of 2.37%. The firm had revenue of $233.24 million for the quarter, compared to analyst estimates of $224.54 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Zynga will post 0.07 earnings per share for the current fiscal year.
In related news, Director Mark J. Pincus sold 437,322 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $3.70, for a total transaction of $1,618,091.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Matthew S. Bromberg sold 41,500 shares of the firm’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $3.95, for a total transaction of $163,925.00. Following the transaction, the chief operating officer now directly owns 493,294 shares in the company, valued at $1,948,511.30. The disclosure for this sale can be found here. Insiders have sold 576,322 shares of company stock worth $2,177,796 over the last three months. 11.87% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZNGA. Lourd Capital LLC purchased a new stake in Zynga during the third quarter worth about $109,000. Macquarie Group Ltd. purchased a new stake in Zynga during the second quarter worth about $117,000. Dynasty Wealth Management LLC purchased a new stake in Zynga during the second quarter worth about $126,000. Bank of Montreal Can increased its holdings in Zynga by 111.1% during the third quarter. Bank of Montreal Can now owns 32,809 shares of the company’s stock worth $131,000 after buying an additional 17,269 shares during the last quarter. Finally, Oakbrook Investments LLC increased its holdings in Zynga by 187.0% during the third quarter. Oakbrook Investments LLC now owns 37,450 shares of the company’s stock worth $150,000 after buying an additional 24,400 shares during the last quarter. 73.97% of the stock is currently 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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