A number of other research analysts also recently weighed in on the company. Wells Fargo & Company restated a “hold” rating on shares of Zynga in a research note on Thursday, August 13th. MKM Partners started coverage on shares of Zynga in a research note on Wednesday, September 30th. They issued a “buy” rating and a $12.00 target price for the company. Berenberg Bank downgraded shares of Zynga from a “buy” rating to a “hold” rating and set a $10.50 target price on the stock. in a report on Tuesday, August 11th. Wedbush increased their price target on shares of Zynga from $11.50 to $13.25 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, KeyCorp boosted their price objective on shares of Zynga from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Zynga presently has an average rating of “Hold” and a consensus price target of $10.75.
NASDAQ ZNGA opened at $9.30 on Tuesday. Zynga has a 12-month low of $5.65 and a 12-month high of $10.69. The firm’s 50 day moving average is $8.92 and its 200-day moving average is $8.71. The company has a market capitalization of $10.00 billion, a PE ratio of -310.00, a price-to-earnings-growth ratio of 1.82 and a beta of 0.29. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.41.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.08). The business had revenue of $518.13 million for the quarter, compared to the consensus estimate of $503.07 million. Zynga had a negative return on equity of 2.06% and a negative net margin of 1.72%. As a group, sell-side analysts expect that Zynga will post 0.23 EPS for the current year.
In related news, CEO Frank D. Gibeau sold 267,279 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $8.50, for a total transaction of $2,271,871.50. Following the transaction, the chief executive officer now directly owns 404,930 shares of the company’s stock, valued at $3,441,905. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James Gerard Griffin sold 10,985 shares of Zynga stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $8.35, for a total transaction of $91,724.75. Following the completion of the sale, the chief financial officer now owns 563,006 shares of the company’s stock, valued at approximately $4,701,100.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 434,707 shares of company stock worth $3,793,437. 9.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ZNGA. M&T Bank Corp grew its position in Zynga by 13.1% during the first quarter. M&T Bank Corp now owns 24,709 shares of the company’s stock worth $169,000 after buying an additional 2,856 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Zynga by 1.8% during the 2nd quarter. Blair William & Co. IL now owns 97,695 shares of the company’s stock worth $932,000 after purchasing an additional 1,773 shares in the last quarter. Synovus Financial Corp increased its position in shares of Zynga by 358.6% in the second quarter. Synovus Financial Corp now owns 16,059 shares of the company’s stock worth $153,000 after purchasing an additional 12,557 shares during the period. Virtu Financial LLC acquired a new position in Zynga in the second quarter valued at about $582,000. Finally, Fulton Bank N. A. bought a new stake in Zynga during the second quarter worth about $118,000. 69.62% of the stock is currently owned by institutional investors.
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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