Piper Jaffray Companies set a $4.00 price target on Zynga Inc. (NASDAQ:ZNGA) in a report released on Thursday. The firm currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Zynga from a hold rating to a buy rating and set a $3.25 price target on the stock in a report on Thursday, April 13th. Cowen and Company reaffirmed an outperform rating and issued a $4.25 price target (up previously from $3.50) on shares of Zynga in a report on Saturday, June 3rd. Jefferies Group LLC reaffirmed a buy rating and issued a $5.00 price target on shares of Zynga in a report on Friday, May 5th. Benchmark Co. reaffirmed a buy rating and issued a $3.65 price target on shares of Zynga in a report on Friday, May 5th. Finally, Bank of America Corporation raised shares of Zynga from an underperform rating to a neutral rating and upped their price target for the company from $2.50 to $3.25 in a report on Friday, May 5th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $3.92.

Shares of Zynga (NASDAQ:ZNGA) opened at 3.57 on Thursday. The firm’s market cap is $3.08 billion. Zynga has a 12-month low of $2.40 and a 12-month high of $3.86. The firm has a 50-day moving average of $3.65 and a 200-day moving average of $3.11.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $201.64 million. The firm’s revenue was up 15.1% compared to the same quarter last year. On average, equities analysts forecast that Zynga will post $0.09 earnings per share for the current fiscal year.

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In related news, Director William B. Gordon sold 549,637 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $3.52, for a total transaction of $1,934,722.24. Following the completion of the transaction, the director now owns 832,603 shares of the company’s stock, valued at $2,930,762.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William B. Gordon sold 1,232,373 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the transaction, the director now directly owns 832,603 shares of the company’s stock, valued at approximately $2,914,110.50. The disclosure for this sale can be found here. Insiders have sold 1,818,010 shares of company stock valued at $6,377,868 in the last ninety days. 12.43% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ZNGA. World Asset Management Inc raised its position 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 valued at $101,000 after buying an additional 98 shares during the period. Princeton Portfolio Strategies Group LLC raised its position in shares of Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after buying an additional 10,900 shares during the period. HighTower Advisors LLC bought a new position in shares of Zynga during the first quarter valued at approximately $116,000. GSA Capital Partners LLP raised its position in shares of Zynga by 132.3% in the fourth quarter. GSA Capital Partners LLP now owns 57,935 shares of the company’s stock valued at $149,000 after buying an additional 32,994 shares during the period. Finally, Clinton Group Inc. raised its position in shares of Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock valued at $174,000 after buying an additional 423 shares during the period. 66.14% of the stock is owned by hedge funds and other 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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