Shares of Zynga Inc (NASDAQ:ZNGA) have been assigned an average recommendation of “Buy” from the seventeen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.35.
ZNGA has been the topic of several recent research reports. BidaskClub downgraded shares of Zynga from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 20th. Goldman Sachs Group initiated coverage on shares of Zynga in a report on Wednesday, January 30th. They issued a “buy” rating and a $5.30 price objective on the stock. Jefferies Financial Group upped their price objective on shares of Zynga from $5.75 to $7.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective (up from $5.00) on shares of Zynga in a report on Thursday, May 2nd. Finally, Stephens upped their price objective on shares of Zynga from $5.25 to $6.50 and gave the company an “equal weight” rating in a report on Thursday, May 2nd.
In related news, COO Matthew S. Bromberg sold 41,500 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $6.11, for a total transaction of $253,565.00. Following the sale, the chief operating officer now directly owns 707,203 shares of the company’s stock, valued at $4,321,010.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Miles Ryan sold 36,798 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.35, for a total transaction of $196,869.30. Following the sale, the insider now directly owns 57,970 shares in the company, valued at $310,139.50. The disclosure for this sale can be found here. Insiders have sold 3,095,503 shares of company stock worth $16,924,915 over the last three months. 9.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Utah Retirement Systems boosted its holdings in Zynga by 1.2% during the first quarter. Utah Retirement Systems now owns 144,097 shares of the company’s stock worth $768,000 after buying an additional 1,709 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in Zynga by 18.0% during the fourth quarter. AdvisorNet Financial Inc now owns 14,060 shares of the company’s stock worth $55,000 after buying an additional 2,149 shares in the last quarter. First Hawaiian Bank boosted its holdings in Zynga by 18.5% during the fourth quarter. First Hawaiian Bank now owns 18,240 shares of the company’s stock worth $72,000 after buying an additional 2,845 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Zynga by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,027,174 shares of the company’s stock worth $5,475,000 after buying an additional 3,010 shares in the last quarter. Finally, Bluefin Trading LLC boosted its holdings in Zynga by 17.2% during the fourth quarter. Bluefin Trading LLC now owns 29,300 shares of the company’s stock worth $115,000 after buying an additional 4,300 shares in the last quarter. 76.66% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:ZNGA traded down $0.02 during trading hours on Monday, hitting $6.17. 756,959 shares of the company were exchanged, compared to its average volume of 23,322,954. The company has a market cap of $5.73 billion, a PE ratio of 311.25, a P/E/G ratio of 2.01 and a beta of 0.43. Zynga has a 52-week low of $3.32 and a 52-week high of $6.31.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.17). The business had revenue of $265.00 million during the quarter, compared to analysts’ expectations of $255.45 million. Zynga had a negative net margin of 12.34% and a negative return on equity of 7.09%. The firm’s revenue was up 27.4% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. As a group, research analysts anticipate that Zynga will post 0.14 earnings per share for the current fiscal year.
Zynga Company Profile
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.
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