Zynga Inc. (ZNGA) Receives Average Recommendation of “Buy” from Analysts
Zynga Inc. (NASDAQ:ZNGA) has been given a consensus recommendation of “Buy” by the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.08.
ZNGA has been the subject of several research analyst reports. BidaskClub raised shares of Zynga from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Thursday, August 10th. Benchmark Co. reaffirmed a “buy” rating and set a $4.35 target price (up previously from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Piper Jaffray Companies set a $4.00 target price on shares of Zynga and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Cowen and Company reiterated a “buy” rating and issued a $4.50 price objective on shares of Zynga in a research note on Thursday, October 12th.
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In other news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $3.77, for a total value of $45,240.00. Following the completion of the transaction, the director now directly owns 134,478 shares in the company, valued at approximately $506,982.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 36,000 shares of company stock valued at $137,040 over the last 90 days. Corporate insiders own 12.43% of the company’s stock.
Several large investors have recently modified their holdings of ZNGA. BlackRock Inc. grew its holdings in shares of Zynga by 5,061.5% during the 1st quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock valued at $102,420,000 after purchasing an additional 35,240,491 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Zynga during the 2nd quarter valued at approximately $33,218,000. Marshall Wace North America L.P. grew its holdings in shares of Zynga by 961.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 7,304,569 shares of the company’s stock valued at $29,219,000 after purchasing an additional 6,616,326 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Zynga by 453.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock valued at $26,866,000 after purchasing an additional 5,822,916 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Zynga by 33.4% during the 2nd quarter. Renaissance Technologies LLC now owns 23,009,600 shares of the company’s stock valued at $83,755,000 after purchasing an additional 5,759,000 shares during the last quarter. Institutional investors own 69.31% of the company’s stock.
Shares of Zynga (NASDAQ ZNGA) traded down $0.01 during mid-day trading on Thursday, hitting $3.84. 7,391,900 shares of the company traded hands, compared to its average volume of 10,674,891. Zynga has a 1-year low of $2.40 and a 1-year high of $4.09.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Tuesday, November 7th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $224.60 million during the quarter, compared to the consensus estimate of $211.98 million. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. Zynga’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. analysts forecast that Zynga will post 0.02 earnings per share for the current fiscal year.
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.
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