Zynga Inc. (NASDAQ:ZNGA)‘s stock had its “hold” rating reaffirmed by investment analysts at Robert W. Baird in a research note issued on Friday. They presently have a $4.00 price target on the stock. Robert W. Baird’s target price points to a potential upside of 4.71% from the stock’s previous close.
ZNGA has been the topic of a number of other reports. Morgan Stanley restated an “overweight” rating and set a $3.70 price target on shares of Zynga in a research report on Saturday, July 22nd. Wedbush restated an “outperform” rating and set a $4.65 price target (up from $4.25) on shares of Zynga in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Thursday, August 10th. Canaccord Genuity boosted their price target on shares of Zynga from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of Zynga in a research report on Friday, September 8th. They set a “neutral” rating and a $3.90 price target on the stock. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $4.06.
Zynga (ZNGA) opened at 3.82 on Friday. The firm has a 50-day moving average of $3.67 and a 200-day moving average of $3.34. Zynga has a one year low of $2.40 and a one year high of $4.02. The stock’s market capitalization is $3.31 billion.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The company had revenue of $209.20 million for the quarter, compared to the consensus estimate of $201.64 million. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Zynga will post $0.10 earnings per share for the current year.
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In other news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $3.62, for a total transaction of $43,440.00. Following the sale, the director now owns 158,478 shares in the company, valued at $573,690.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 36,000 shares of company stock worth $132,360 in the last 90 days. 12.43% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ZNGA. Teachers Advisors LLC raised its holdings in shares of Zynga by 4.6% during the fourth quarter. Teachers Advisors LLC now owns 750,305 shares of the company’s stock valued at $1,928,000 after acquiring an additional 32,740 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Zynga by 49.5% during the first quarter. Nationwide Fund Advisors now owns 311,912 shares of the company’s stock valued at $889,000 after acquiring an additional 103,210 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Zynga by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,542,644 shares of the company’s stock valued at $7,247,000 after acquiring an additional 87,300 shares during the period. Swiss National Bank raised its holdings in shares of Zynga by 1.6% during the first quarter. Swiss National Bank now owns 1,277,553 shares of the company’s stock valued at $3,641,000 after acquiring an additional 20,300 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Zynga by 15.7% during the first quarter. UBS Asset Management Americas Inc. now owns 448,393 shares of the company’s stock valued at $1,278,000 after acquiring an additional 60,954 shares during the period. Institutional investors and hedge funds own 68.19% of the company’s stock.
Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.
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