Zynga (NASDAQ:ZNGA) had its target price lowered by Credit Suisse Group from $4.90 to $4.50 in a research note published on Thursday morning. The brokerage currently has an underperform rating on the stock.
Several other analysts also recently commented on ZNGA. BidaskClub downgraded Zynga from a hold rating to a sell rating in a research note on Thursday. Barclays set a $3.40 price objective on Zynga and gave the stock an underweight rating in a research note on Thursday. Wedbush set a $6.00 price objective on Zynga and gave the stock a buy rating in a research note on Thursday, August 2nd. ValuEngine downgraded Zynga from a buy rating to a hold rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley increased their price target on Zynga from $4.50 to $4.70 and gave the company an overweight rating in a research report on Wednesday, July 11th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $4.82.
Shares of Zynga stock traded up $0.10 on Thursday, hitting $3.76. The company had a trading volume of 13,551,543 shares, compared to its average volume of 12,085,195. The company has a market cap of $3.16 billion, a PE ratio of 125.33, a price-to-earnings-growth ratio of 2.33 and a beta of 0.27. Zynga has a 1 year low of $3.20 and a 1 year high of $4.57.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $233.24 million during the quarter, compared to the consensus estimate of $224.54 million. Zynga had a return on equity of 2.37% and a net margin of 4.04%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 earnings per share. Equities analysts expect that Zynga will post 0.07 EPS for the current fiscal year.
In related news, Director Mark J. Pincus sold 437,322 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $3.70, for a total transaction of $1,618,091.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $3.92, for a total value of $47,040.00. Following the sale, the director now directly owns 213,277 shares of the company’s stock, valued at $836,045.84. The disclosure for this sale can be found here. Insiders have sold 576,322 shares of company stock valued at $2,177,796 over the last ninety days. 11.87% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Zynga by 12.5% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 121,500 shares of the company’s stock valued at $487,000 after acquiring an additional 13,500 shares during the last quarter. Bank of Montreal Can grew 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 valued at $131,000 after purchasing an additional 17,269 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Zynga by 2.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 953,264 shares of the company’s stock valued at $3,880,000 after purchasing an additional 20,290 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Zynga by 99.7% during the second quarter. BNP Paribas Arbitrage SA now owns 46,102 shares of the company’s stock valued at $188,000 after purchasing an additional 23,017 shares during the period. Finally, Swiss National Bank grew its holdings in Zynga by 1.8% during the second quarter. Swiss National Bank now owns 1,377,253 shares of the company’s stock valued at $5,605,000 after purchasing an additional 24,100 shares during the period. 73.97% of the stock is owned by institutional investors.
Zynga Company Profile
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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