Barclays set a $3.40 price objective on Zynga (NASDAQ:ZNGA) in a research note published on Thursday morning, Marketbeat.com reports. The firm currently has an underweight rating on the stock.
Several other equities research analysts also recently weighed in on ZNGA. Morgan Stanley increased their price target on Zynga from $4.50 to $4.70 and gave the stock an overweight rating in a report on Wednesday, July 11th. Wedbush set a $6.00 price target on Zynga and gave the stock a buy rating in a report on Thursday, July 26th. BidaskClub downgraded Zynga from a hold rating to a sell rating in a report on Friday, July 27th. ValuEngine downgraded Zynga from a buy rating to a hold rating in a report on Thursday, August 2nd. Finally, Credit Suisse Group increased their price target on Zynga from $4.00 to $4.90 and gave the stock an underperform rating in a report on Thursday, August 2nd. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given 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 ZNGA stock opened at $3.76 on Thursday. Zynga has a 1 year low of $3.20 and a 1 year high of $4.57. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 125.33, a P/E/G ratio of 2.39 and a beta of 0.42.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.05 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $224.54 million. During the same period in the prior year, the business posted $0.02 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Zynga will post 0.07 EPS for the current year.
In related news, COO Matthew S. Bromberg sold 41,500 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $3.95, for a total value of $163,925.00. Following the transaction, the chief operating officer now owns 493,294 shares of the company’s stock, valued at $1,948,511.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $3.92, for a total value of $47,040.00. Following the completion of the transaction, the director now directly owns 213,277 shares in the company, valued at approximately $836,045.84. The disclosure for this sale can be found here. In the last three months, insiders sold 576,322 shares of company stock worth $2,177,796. 11.87% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in ZNGA. Xact Kapitalforvaltning AB grew its stake in Zynga by 48.8% in the first 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 grew its stake in Zynga by 75.2% in the first 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 grew its stake in Zynga by 40.0% in the second 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. bought a new position in Zynga in the second quarter worth approximately $373,000. Finally, Acadian Asset Management LLC bought a new position in Zynga in the second quarter worth approximately $254,000. 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.
Read More: What Does Beta Mean In Stock Selection
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.