Cowen and Company reiterated their outperform rating on shares of Zynga Inc. (NASDAQ:ZNGA) in a research report sent to investors on Thursday. Cowen and Company currently has a $4.50 price objective on the stock.

A number of other brokerages have also commented on ZNGA. Canaccord Genuity upped their price target on shares of Zynga from $3.00 to $3.50 and gave the company a hold rating in a research note on Thursday. Zacks Investment Research lowered shares of Zynga from a buy rating to a hold rating in a research note on Friday, July 7th. Bank of America Corporation upped their price target on shares of Zynga from $2.50 to $3.25 in a research note on Monday, May 15th. Wedbush upped their price target on shares of Zynga from $4.25 to $4.65 and gave the company an outperform rating in a research note on Thursday. Finally, Piper Jaffray Companies set a $4.00 price target on shares of Zynga and gave the company a buy rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Zynga has a consensus rating of Buy and an average price target of $3.92.

Zynga (ZNGA) traded down 3.25% during midday trading on Thursday, hitting $3.57. 15,339,965 shares of the company traded hands. The company’s market capitalization is $3.08 billion. Zynga has a 12-month low of $2.40 and a 12-month high of $3.86. The stock’s 50-day moving average price is $3.65 and its 200 day moving average price is $3.11. Zynga also was the target of some unusual options trading activity on Thursday. Investors bought 11,077 call options on the company. This represents an increase of approximately 802% compared to the average volume of 1,228 call options.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The company had revenue of $209.20 million during the quarter, compared to analyst estimates of $201.64 million. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Zynga will post $0.09 EPS for the current year.

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In other news, Director William B. Gordon sold 1,232,373 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the completion of the sale, the director now owns 832,603 shares of the company’s stock, valued at approximately $2,914,110.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $3.56, for a total transaction of $42,720.00. Following the sale, the director now directly owns 153,057 shares of the company’s stock, valued at approximately $544,882.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,818,010 shares of company stock valued at $6,377,868. 12.43% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of ZNGA. World Asset Management Inc increased its stake in shares of Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after buying an additional 98 shares during the period. Clinton Group Inc. increased its stake in shares of Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock worth $174,000 after buying an additional 423 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Zynga by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 184,005 shares of the company’s stock worth $670,000 after buying an additional 820 shares during the period. Principal Financial Group Inc. increased its stake in shares of Zynga by 2.8% in the first quarter. Principal Financial Group Inc. now owns 92,862 shares of the company’s stock worth $265,000 after buying an additional 2,540 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Zynga by 4.9% in the second quarter. Teacher Retirement System of Texas now owns 63,571 shares of the company’s stock worth $231,000 after buying an additional 2,941 shares during the period. 66.14% of the stock is owned by institutional investors.

Zynga Company Profile

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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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