Analysts Set Zynga Inc (ZNGA) Price Target at $4.85

Shares of Zynga Inc (NASDAQ:ZNGA) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat reports. Four investment 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 average 12 month price objective among brokers that have covered the stock in the last year is $4.85.

Several research analysts have recently issued reports on the company. Wedbush set a $6.00 target price on Zynga and gave the stock a “buy” rating in a research report on Thursday, July 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $5.25 price objective on shares of Zynga in a research report on Thursday, October 11th. BidaskClub lowered Zynga from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Morgan Stanley raised their price objective on Zynga from $4.50 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Finally, ValuEngine raised Zynga from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $3.92, for a total transaction of $47,040.00. Following the completion of the transaction, the director now owns 213,277 shares of the company’s stock, valued at approximately $836,045.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark J. Pincus sold 437,322 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were 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 ninety days, insiders have sold 576,322 shares of company stock valued at $2,177,796. 11.87% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. purchased a new stake in Zynga during the 3rd quarter valued at $5,719,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Zynga by 12.5% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 121,500 shares of the company’s stock valued at $487,000 after purchasing an additional 13,500 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Zynga during the 3rd quarter valued at $193,000. Sterling Capital Management LLC boosted its stake in Zynga by 19.7% during the 3rd quarter. Sterling Capital Management LLC now owns 871,689 shares of the company’s stock valued at $3,495,000 after purchasing an additional 143,541 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in Zynga by 10,377.9% during the 3rd quarter. FNY Investment Advisers LLC now owns 85,500 shares of the company’s stock valued at $342,000 after purchasing an additional 84,684 shares during the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.

Shares of NASDAQ:ZNGA opened at $3.76 on Thursday. Zynga has a 52-week low of $3.20 and a 52-week high of $4.57. The company has a market capitalization of $3.23 billion, a PE ratio of 125.33, a PEG ratio of 2.39 and a beta of 0.42.

Zynga (NASDAQ:ZNGA) last announced its earnings results on Wednesday, October 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Zynga had a return on equity of 1.89% and a net margin of 3.12%. The firm had revenue of $233.24 million during the quarter, compared to analyst estimates of $224.54 million. During the same quarter in the prior year, the company earned $0.02 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that Zynga will post 0.07 earnings per share for the current fiscal year.

About Zynga

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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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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