Jefferies Financial Group Begins Coverage on Zynga (NASDAQ:ZNGA)

Jefferies Financial Group started coverage on shares of Zynga (NASDAQ:ZNGA) in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $7.50 target price on the stock. Jefferies Financial Group also issued estimates for Zynga’s FY2021 earnings at $0.16 EPS.

A number of other equities analysts have also commented on ZNGA. Bank of America set a $54.00 price target on shares of Fortis and gave the company a buy rating in a research report on Thursday, May 2nd. Benchmark reissued a buy rating and issued a $120.00 price target (up previously from $110.00) on shares of SPS Commerce in a research report on Thursday, May 2nd. Stephens initiated coverage on shares of Genuine Parts in a research report on Thursday, May 30th. They issued an overweight rating and a $114.00 price target on the stock. Piper Jaffray Companies raised shares of Brookline Bancorp from a neutral rating to an overweight rating and lifted their price target for the company from $15.50 to $17.00 in a research report on Thursday, May 2nd. Finally, Robert W. Baird raised shares of Zynga from a neutral rating to an outperform rating and lifted their price target for the company from $5.00 to $8.00 in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Zynga currently has a consensus rating of Buy and an average target price of $6.56.

NASDAQ ZNGA opened at $6.27 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $5.85 billion, a PE ratio of 313.50, a PEG ratio of 3.21 and a beta of 0.28. The company has a 50 day simple moving average of $6.18. Zynga has a 12-month low of $3.32 and a 12-month high of $6.55.



Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.17). Zynga had a negative net margin of 12.34% and a negative return on equity of 7.09%. The business had revenue of $265.00 million during the quarter, compared to analyst estimates of $255.45 million. During the same quarter last year, the firm earned $0.01 earnings per share. Zynga’s revenue was up 27.4% compared to the same quarter last year. On average, analysts expect that Zynga will post 0.13 EPS for the current fiscal year.

In related news, COO Matthew S. Bromberg sold 41,500 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $5.27, for a total transaction of $218,705.00. Following the transaction, the chief operating officer now owns 623,703 shares of the company’s stock, valued at $3,286,914.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Miles Ryan sold 36,798 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.09, for a total transaction of $224,099.82. Following the transaction, the insider now directly owns 10,667 shares in the company, valued at approximately $64,962.03. The disclosure for this sale can be found here. Insiders have sold 2,508,703 shares of company stock worth $13,918,099 in the last ninety days. 9.40% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC lifted its stake in Zynga by 9.0% in the 4th quarter. Private Advisor Group LLC now owns 52,441 shares of the company’s stock valued at $206,000 after buying an additional 4,326 shares in the last quarter. Van ECK Associates Corp purchased a new position in Zynga in the 4th quarter valued at about $187,000. Great West Life Assurance Co. Can lifted its stake in Zynga by 17.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 105,146 shares of the company’s stock valued at $398,000 after buying an additional 15,634 shares in the last quarter. Bessemer Group Inc. purchased a new position in Zynga in the 4th quarter valued at about $121,000. Finally, Magnus Financial Group LLC purchased a new position in Zynga in the 4th quarter valued at about $126,000. 73.37% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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