Zynga (NASDAQ:ZNGA) Receives New Coverage from Analysts at KeyCorp

Equities research analysts at KeyCorp assumed coverage on shares of Zynga (NASDAQ:ZNGA) in a research report issued on Tuesday, The Fly reports. The brokerage set an “overweight” rating and a $8.50 price target on the stock. KeyCorp’s target price points to a potential upside of 25.55% from the stock’s current price.

Several other research analysts have also recently weighed in on ZNGA. Barclays set a $6.00 price target on shares of Zynga and gave the company a “hold” rating in a report on Monday, October 21st. SunTrust Banks assumed coverage on Zynga in a report on Monday, January 6th. They set a “buy” rating and a $7.50 price objective for the company. ValuEngine downgraded Zynga from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. BidaskClub upgraded Zynga from a “strong sell” rating to a “sell” rating in a research note on Friday, January 10th. Finally, Zacks Investment Research lowered Zynga from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Zynga has an average rating of “Buy” and an average target price of $7.36.

Shares of ZNGA opened at $6.77 on Tuesday. The firm has a market capitalization of $6.26 billion, a PE ratio of 338.50, a PEG ratio of 2.67 and a beta of 0.29. The company’s 50-day moving average is $6.29 and its 200-day moving average is $6.13. Zynga has a fifty-two week low of $4.21 and a fifty-two week high of $6.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.12 and a quick ratio of 2.12.

Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $345.29 million during the quarter, compared to analysts’ expectations of $330.56 million. Zynga had a net margin of 3.94% and a negative return on equity of 11.86%. Zynga’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS. Analysts predict that Zynga will post 0.16 earnings per share for the current fiscal year.

In other news, CAO Jeffrey Buckley sold 9,453 shares of Zynga stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.26, for a total value of $59,175.78. Following the completion of the sale, the chief accounting officer now directly owns 73,337 shares in the company, valued at $459,089.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ellen F. Siminoff sold 5,000 shares of Zynga stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $6.29, for a total transaction of $31,450.00. Following the completion of the sale, the director now owns 130,688 shares of the company’s stock, valued at $822,027.52. The disclosure for this sale can be found here. Insiders sold a total of 2,245,970 shares of company stock valued at $14,345,811 in the last quarter. Corporate insiders own 9.40% of the company’s stock.

Several hedge funds have recently modified their holdings of ZNGA. Comerica Bank raised its holdings in Zynga by 1.7% in the 3rd quarter. Comerica Bank now owns 159,476 shares of the company’s stock valued at $982,000 after acquiring an additional 2,656 shares in the last quarter. River & Mercantile Asset Management LLP grew its holdings in shares of Zynga by 0.3% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 1,096,389 shares of the company’s stock worth $6,715,000 after purchasing an additional 2,800 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Zynga by 8.2% during the 2nd quarter. Prudential Financial Inc. now owns 49,550 shares of the company’s stock worth $304,000 after purchasing an additional 3,750 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Zynga by 65.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 10,150 shares of the company’s stock worth $59,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Synovus Financial Corp bought a new position in shares of Zynga in the third quarter worth $27,000. Institutional investors and hedge funds own 77.40% 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 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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The Fly

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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