Several other equities research analysts have also issued reports on ZNGA. BidaskClub lowered Zynga from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Benchmark Co. reissued a buy rating and set a $4.35 price target (up from $3.65) on shares of Zynga in a research report on Wednesday, August 9th. KeyCorp reissued a hold rating on shares of Zynga in a research report on Tuesday. Zacks Investment Research raised 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. Finally, Cowen and Company reissued an outperform rating and set a $4.50 price target on shares of Zynga in a research report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Zynga currently has an average rating of Buy and a consensus target price of $4.09.
Shares of Zynga (NASDAQ:ZNGA) traded up 0.51% during mid-day trading on Wednesday, reaching $3.94. 12,179,206 shares of the company traded hands. Zynga has a 52-week low of $2.40 and a 52-week high of $4.02. The company’s market capitalization is $3.41 billion. The firm’s 50 day moving average price is $3.79 and its 200-day moving average price is $3.52.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. Zynga’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts predict that Zynga will post $0.10 earnings per share for the current fiscal year.
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In other news, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $3.77, for a total transaction of $45,240.00. Following the transaction, the director now owns 134,478 shares of the company’s stock, valued at approximately $506,982.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 36,000 shares of company stock worth $134,160. 12.43% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Zynga by 5,061.5% in the 1st quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock valued at $102,420,000 after buying an additional 35,240,491 shares during the last quarter. Legal & General Group Plc grew its holdings in Zynga by 454.0% in the 2nd quarter. Legal & General Group Plc now owns 1,414,781 shares of the company’s stock valued at $5,110,000 after buying an additional 1,159,405 shares during the last quarter. Two Sigma Securities LLC grew its holdings in Zynga by 103.1% in the 1st quarter. Two Sigma Securities LLC now owns 101,074 shares of the company’s stock valued at $288,000 after buying an additional 51,299 shares during the last quarter. Comerica Bank grew its holdings in Zynga by 914.3% in the 2nd quarter. Comerica Bank now owns 306,032 shares of the company’s stock valued at $1,148,000 after buying an additional 275,860 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Zynga in the 1st quarter valued at approximately $8,390,000. 68.21% of the stock is currently owned by hedge funds and other institutional investors.
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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