Other equities analysts have also issued research reports about the company. Wedbush reiterated an outperform rating and set a $9.00 price objective on shares of Zynga in a research note on Tuesday, August 27th. Morgan Stanley set a $7.00 price objective on Zynga and gave the company a buy rating in a research note on Monday, July 15th. Bank of America lifted their price objective on Zynga from $6.60 to $6.70 and gave the company a neutral rating in a research note on Thursday, August 1st. Robert W. Baird set a $8.00 price objective on Zynga and gave the company a buy rating in a research note on Thursday, August 29th. Finally, Stephens upgraded Zynga from an equal weight rating to an overweight rating and lifted their price objective for the company from $6.50 to $8.25 in a research note on Thursday, May 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $6.82.
NASDAQ ZNGA opened at $6.00 on Tuesday. The stock has a 50-day simple moving average of $5.84 and a two-hundred day simple moving average of $5.88. The firm has a market capitalization of $5.69 billion, a P/E ratio of 300.00, a PEG ratio of 3.14 and a beta of 0.31. Zynga has a fifty-two week low of $3.32 and a fifty-two week high of $6.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.99 and a current ratio of 1.99.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $306.50 million for the quarter, compared to analysts’ expectations of $293.18 million. Zynga had a negative net margin of 16.50% and a negative return on equity of 10.42%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, analysts forecast that Zynga will post 0.13 earnings per share for the current year.
In other news, CAO Jeffrey Buckley sold 34,663 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $6.14, for a total transaction of $212,830.82. Following the sale, the chief accounting officer now directly owns 54,587 shares in the company, valued at approximately $335,164.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen F. Siminoff sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $6.11, for a total value of $30,550.00. Following the sale, the director now owns 229,092 shares in the company, valued at $1,399,752.12. The disclosure for this sale can be found here. Insiders have sold a total of 122,663 shares of company stock worth $740,551 over the last 90 days. Insiders own 9.40% of the company’s stock.
Several large investors have recently bought and sold shares of ZNGA. Renaissance Technologies LLC grew its position in shares of Zynga by 1,172.6% during the 2nd quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock valued at $118,994,000 after acquiring an additional 17,886,400 shares during the period. Invesco Ltd. grew its position in shares of Zynga by 592.1% during the 2nd quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock valued at $118,283,000 after acquiring an additional 16,507,732 shares during the period. TimesSquare Capital Management LLC grew its position in shares of Zynga by 228.2% during the 1st quarter. TimesSquare Capital Management LLC now owns 13,256,300 shares of the company’s stock valued at $70,656,000 after acquiring an additional 9,217,100 shares during the period. Nuveen Asset Management LLC boosted its holdings in Zynga by 118.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 10,830,278 shares of the company’s stock worth $66,390,000 after buying an additional 5,878,684 shares during the last quarter. Finally, Fiera Capital Corp boosted its holdings in Zynga by 943.2% in the 2nd quarter. Fiera Capital Corp now owns 6,204,942 shares of the company’s stock worth $38,036,000 after buying an additional 5,610,160 shares during the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.
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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