ValuEngine Upgrades Zynga (NASDAQ:ZNGA) to Buy

ValuEngine upgraded shares of Zynga (NASDAQ:ZNGA) from a hold rating to a buy rating in a research note published on Saturday morning, ValuEngine reports.

ZNGA has been the subject of several other research reports. Stephens raised shares of Zynga from an equal weight rating to an overweight rating and upped their price target for the stock from $6.50 to $8.25 in a research report on Thursday, May 30th. Bank of America upped their price target on shares of Zynga from $6.60 to $6.70 and gave the stock a neutral rating in a research report on Thursday, August 1st. Wedbush reaffirmed an outperform rating and set a $9.00 price target on shares of Zynga in a research report on Tuesday, August 27th. Jefferies Financial Group began coverage on shares of Zynga in a research report on Thursday, July 11th. They set a buy rating and a $7.50 price target for the company. Finally, Morgan Stanley set a $7.00 price target on shares of Zynga and gave the stock a buy rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Zynga has an average rating of Buy and a consensus price target of $6.81.

NASDAQ:ZNGA opened at $6.04 on Friday. The firm has a 50 day simple moving average of $5.87 and a 200-day simple moving average of $5.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market cap of $5.57 billion, a PE ratio of 302.00, a P/E/G ratio of 3.03 and a beta of 0.31. Zynga has a 1-year low of $3.32 and a 1-year high of $6.65.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). The firm had revenue of $306.50 million during the quarter, compared to analyst estimates of $293.18 million. Zynga had a negative net margin of 16.50% and a negative return on equity of 10.42%. Zynga’s revenue was up 41.2% compared to the same quarter last year. As a group, sell-side analysts expect that Zynga will post 0.13 earnings per share for the current fiscal year.

In other news, insider Jeffrey Miles Ryan sold 36,798 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.09, for a total value of $224,099.82. Following the completion of the sale, the insider now owns 10,667 shares of the company’s stock, valued at $64,962.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew S. Bromberg sold 41,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $5.68, for a total transaction of $235,720.00. Following the completion of the sale, the chief operating officer now directly owns 631,458 shares of the company’s stock, valued at approximately $3,586,681.44. The disclosure for this sale can be found here. Insiders have sold 119,798 shares of company stock valued at $721,270 in the last ninety days. 9.40% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Zynga by 1.7% in the second quarter. Vanguard Group Inc. now owns 74,896,553 shares of the company’s stock worth $459,116,000 after acquiring an additional 1,274,882 shares in the last quarter. BlackRock Inc. increased its position in shares of Zynga by 1.1% in the first quarter. BlackRock Inc. now owns 67,298,044 shares of the company’s stock worth $358,697,000 after acquiring an additional 708,261 shares in the last quarter. First Trust Advisors LP increased its position in shares of Zynga by 13.0% in the first quarter. First Trust Advisors LP now owns 25,671,314 shares of the company’s stock worth $136,828,000 after acquiring an additional 2,958,148 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Zynga by 1,172.6% in the second quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock worth $118,994,000 after acquiring an additional 17,886,400 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Zynga by 592.1% in the second quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock worth $118,283,000 after acquiring an additional 16,507,732 shares in the last quarter. 71.26% of the stock is owned by institutional investors.

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 Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.

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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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