Zynga Inc (NASDAQ:ZNGA) has been given a consensus rating of “Buy” by the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.11.
ZNGA has been the subject of several research reports. Wedbush set a $5.00 price objective on shares of Zynga and gave the company a “buy” rating in a research report on Wednesday, October 18th. Cowen restated a “buy” rating and issued a $4.50 price objective on shares of Zynga in a research report on Thursday, October 12th. Goldman Sachs Group initiated coverage on shares of Zynga in a research report on Friday, September 8th. They issued a “neutral” rating and a $3.90 price objective for the company. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective for the company in a research report on Saturday, November 11th. Finally, BidaskClub cut shares of Zynga from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th.
In other news, insider Bernard Jin Kim sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $3.94, for a total value of $197,000.00. Following the transaction, the insider now owns 349,450 shares of the company’s stock, valued at approximately $1,376,833. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $3.86, for a total transaction of $46,320.00. Following the completion of the transaction, the director now directly owns 139,900 shares in the company, valued at approximately $540,014. The disclosure for this sale can be found here. Insiders sold a total of 236,000 shares of company stock worth $930,600 in the last ninety days. Insiders own 12.43% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Zynga by 23.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after purchasing an additional 5,815 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Zynga in the 3rd quarter valued at about $150,000. Prudential Financial Inc. boosted its stake in shares of Zynga by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after purchasing an additional 3,700 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Zynga in the 2nd quarter valued at about $170,000. Finally, Westfield Capital Management Co. LP bought a new position in shares of Zynga in the 2nd quarter valued at about $215,000. 70.45% of the stock is currently owned by institutional investors.
Shares of Zynga (NASDAQ ZNGA) traded down $0.13 during trading on Friday, hitting $3.89. 10,636,700 shares of the company were exchanged, compared to its average volume of 15,386,967. The firm has a market cap of $3,360.00, a PE ratio of -129.67, a P/E/G ratio of 2.95 and a beta of 0.76. Zynga has a 1-year low of $2.40 and a 1-year high of $4.34.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $211.98 million. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. equities research analysts expect that Zynga will post 0.02 EPS for the current fiscal year.
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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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