Zynga (NASDAQ:ZNGA) received a $6.00 price objective from stock analysts at Wedbush in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Wedbush’s price objective points to a potential upside of 59.57% from the company’s previous close.
A number of other brokerages have also recently weighed in on ZNGA. Jefferies Financial Group restated a “buy” rating and issued a $5.25 price target on shares of Zynga in a research report on Thursday, October 11th. BidaskClub cut Zynga from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Morgan Stanley raised 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. ValuEngine upgraded Zynga from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Finally, Stifel Nicolaus assumed coverage on Zynga in a research report on Thursday, September 27th. They issued a “buy” rating and a $5.00 price target for the company. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $4.82.
Shares of ZNGA stock opened at $3.76 on Thursday. Zynga has a fifty-two week low of $3.20 and a fifty-two week high of $4.57. The firm has a market capitalization of $3.13 billion, a PE ratio of 121.33, a PEG ratio of 2.31 and a beta of 0.42.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results 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 return on equity of 1.89% and a net margin of 3.12%. The business had revenue of $233.24 million during the quarter, compared to analysts’ expectations of $224.54 million. During the same quarter last year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Zynga will post 0.07 EPS for the current year.
In related news, COO Matthew S. Bromberg sold 20,000 shares of Zynga stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $4.19, for a total transaction of $83,800.00. Following the completion of the sale, the chief operating officer now owns 423,794 shares in the company, valued at approximately $1,775,696.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark J. Pincus sold 437,322 shares of Zynga stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $3.70, for a total value of $1,618,091.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 576,322 shares of company stock valued at $2,177,796. 11.87% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of ZNGA. Xact Kapitalforvaltning AB increased its position in Zynga by 48.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 121,075 shares of the company’s stock worth $443,000 after purchasing an additional 39,700 shares in the last quarter. Allianz Asset Management GmbH increased its position in Zynga by 75.2% during the 1st quarter. Allianz Asset Management GmbH now owns 3,350,137 shares of the company’s stock worth $12,262,000 after purchasing an additional 1,438,155 shares in the last quarter. State of Alaska Department of Revenue increased its position in Zynga by 40.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 84,620 shares of the company’s stock worth $344,000 after purchasing an additional 24,190 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Zynga during the 2nd quarter worth about $373,000. Finally, Acadian Asset Management LLC purchased a new stake in Zynga during the 2nd quarter worth about $254,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.
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.
Read More: Fundamental Analysis and Individual Investors
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.