Zynga (ZNGA) Stock Rating Reaffirmed by Wedbush

Zynga (NASDAQ:ZNGA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Wedbush in a research report issued to clients and investors on Friday. They presently have a $6.00 price target on the stock. Wedbush’s price target indicates a potential upside of 56.66% from the company’s current price.

Several other analysts have also issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $5.25 price objective on shares of Zynga in a report on Thursday, October 11th. BidaskClub upgraded Zynga from a “sell” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine upgraded Zynga from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. Stifel Nicolaus assumed coverage on Zynga in a report on Thursday, September 27th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Barclays assumed coverage on Zynga in a report on Thursday, August 9th. They set an “underweight” rating and a $3.70 price objective for the company. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Zynga presently has a consensus rating of “Hold” and an average target price of $4.89.

Shares of Zynga stock opened at $3.83 on Friday. Zynga has a 12 month low of $3.20 and a 12 month high of $4.57. The firm has a market capitalization of $3.35 billion, a PE ratio of 127.67, a price-to-earnings-growth ratio of 2.48 and a beta of 0.27.



Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.03). Zynga had a return on equity of 2.37% and a net margin of 4.04%. The firm had revenue of $217.05 million for the quarter, compared to analysts’ expectations of $212.62 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Zynga’s revenue was up 3.7% on a year-over-year basis. Research analysts expect that Zynga will post 0.07 EPS for the current year.

In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $3.92, for a total transaction of $47,040.00. Following the transaction, the director now directly owns 213,277 shares in the company, valued at $836,045.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Matthew S. Bromberg sold 41,500 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $4.12, for a total value of $170,980.00. Following the transaction, the chief operating officer now owns 485,294 shares in the company, valued at $1,999,411.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,000 shares of company stock valued at $559,705. 11.87% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Zynga by 111.1% during the third quarter. Bank of Montreal Can now owns 32,809 shares of the company’s stock valued at $131,000 after buying an additional 17,269 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Zynga by 2.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 953,264 shares of the company’s stock valued at $3,880,000 after buying an additional 20,290 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Zynga by 99.7% during the second quarter. BNP Paribas Arbitrage SA now owns 46,102 shares of the company’s stock valued at $188,000 after buying an additional 23,017 shares in the last quarter. Swiss National Bank raised its holdings in Zynga by 1.8% during the second quarter. Swiss National Bank now owns 1,377,253 shares of the company’s stock valued at $5,605,000 after buying an additional 24,100 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Zynga by 40.0% during the second quarter. State of Alaska Department of Revenue now owns 84,620 shares of the company’s stock valued at $344,000 after buying an additional 24,190 shares in the last quarter. Institutional investors own 74.61% of the company’s stock.

About Zynga

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 iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.

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