Zynga Inc. (ZNGA) Shares Up 1.9%
Zynga Inc. (NASDAQ:ZNGA)’s share price shot up 1.9% during mid-day trading on Friday . The company traded as high as $2.71 and last traded at $2.69, with a volume of 15,090,379 shares changing hands. The stock had previously closed at $2.64.
A number of brokerages have recently issued reports on ZNGA. Cowen and Company upgraded shares of Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 price objective for the company in a research note on Wednesday, August 3rd. Benchmark Co. upped their target price on shares of Zynga from $3.18 to $3.22 and gave the stock a “buy” rating in a report on Thursday, May 5th. Pacific Crest reaffirmed a “hold” rating on shares of Zynga in a report on Friday, August 5th. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Zynga in a report on Saturday, August 6th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $5.00 target price on shares of Zynga in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Zynga has an average rating of “Hold” and a consensus price target of $3.07.
The stock’s 50-day moving average is $2.78 and its 200 day moving average is $2.48. The firm’s market cap is $2.37 billion.
In other news, General Counsel Devang Shah sold 12,251 shares of Zynga stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $2.64, for a total transaction of $32,342.64. Following the completion of the sale, the general counsel now owns 52,356 shares of the company’s stock, valued at $138,219.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank D. Gibeau sold 159,614 shares of Zynga stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $2.60, for a total value of $414,996.40. Following the sale, the chief executive officer now directly owns 489,964 shares of the company’s stock, valued at approximately $1,273,906.40. The disclosure for this sale can be found here.
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) and Android and social networking sites, such as Facebook. The Company operates through developing and monetizing social games segment.
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