Zynga (NASDAQ: ZNGA) was upgraded by equities researchers at Citigroup (NYSE: C) from an “underperform” rating to a “neutral” rating in a report issued on Friday. The firm currently has a $45.00 target price on the stock. The analysts noted that the move was a valuation call.
Zynga traded down 2.40% on Friday, hitting $6.11. Zynga has a 52-week low of $5.81 and a 52-week high of $15.91. The company’s market cap is $4.497 billion.
Zynga last posted its quarterly earnings results on Thursday, April 26th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.01. Zynga’s revenue was up 32.1% compared to the same quarter last year. Analysts expect that Zynga will post $0.07 EPS next quarter.
A number of other firms have also recently commented on ZNGA. Analysts at Sterne Agee upgraded shares of Zynga from an “underperform” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at Robert W. Baird upgraded shares of Zynga from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $13.00 price target on the stock. Finally, analysts at Needham & Company downgraded shares of Zynga from a “hold” rating to an “underperform” rating in a research note to investors on Friday, April 27th.
Zynga Inc. (Zynga), is a provider of social game services with 240 million average monthly active users over 175 countries.