Zynga Inc (NASDAQ:ZNGA) has been assigned a consensus recommendation of “Buy” from the fourteen analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.98.
Several analysts have weighed in on the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $6.00 target price on shares of Zynga in a report on Thursday, February 7th. Goldman Sachs Group assumed coverage on Zynga in a report on Wednesday, January 30th. They issued a “buy” rating and a $5.30 target price on the stock. Stephens assumed coverage on Zynga in a report on Thursday, January 10th. They issued an “equal weight” rating and a $4.75 target price on the stock. BidaskClub raised Zynga from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 5th. Finally, Barclays set a $4.00 target price on Zynga and gave the company a “sell” rating in a report on Sunday, December 30th.
Get Zynga alerts:In other news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $3.52, for a total value of $42,240.00. Following the sale, the director now directly owns 191,812 shares in the company, valued at $675,178.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jeffrey Buckley sold 100,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $4.00, for a total value of $400,000.00. Following the completion of the sale, the chief accounting officer now owns 36,808 shares in the company, valued at $147,232. The disclosure for this sale can be found here. Insiders sold 434,694 shares of company stock worth $1,749,063 over the last 90 days. Company insiders own 11.87% of the company’s stock.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Zynga by 1.7% during the third quarter. Vanguard Group Inc. now owns 65,906,089 shares of the company’s stock worth $264,283,000 after buying an additional 1,082,874 shares during the period. First Hawaiian Bank lifted its position 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 during the period. Vanguard Group Inc lifted its position in Zynga by 1.7% during the third quarter. Vanguard Group Inc now owns 65,906,089 shares of the company’s stock worth $264,283,000 after buying an additional 1,082,874 shares during the period. Assenagon Asset Management S.A. purchased a new position in Zynga during the fourth quarter worth about $9,389,000. Finally, FMR LLC purchased a new position in Zynga during the second quarter worth about $1,927,000. Institutional investors and hedge funds own 79.03% of the company’s stock.
Zynga stock traded up $0.05 during trading hours on Friday, hitting $5.03. The stock had a trading volume of 25,931,889 shares, compared to its average volume of 15,086,064. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 251.50, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43. Zynga has a 1-year low of $3.32 and a 1-year high of $5.14.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, February 6th. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). The firm had revenue of $248.69 million during the quarter, compared to analyst estimates of $245.78 million. Zynga had a net margin of 1.70% and a return on equity of 1.14%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. On average, equities research analysts anticipate that Zynga will post 0.13 earnings per share for the current fiscal year.
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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