Zacks Investment Research upgraded shares of Zynga (NASDAQ:ZNGA) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $7.00 target price on the stock.
According to Zacks, “Zynga Inc. is the world’s largest social game developer with users playing their games which include CityVille, FarmVille, FrontierVille, Words With Friends, Mafia Wars, Zynga Poker, Cafe World, and Treasure Isle. Zynga Inc. games are available on a number of global platforms including Facebook, MySpace, Yahoo, the iPad, the iPhone and Android devices. They operate their games as live services, by which they mean that they continue to support and update games after launch and gather daily, metrics-based player feedback that enable them to continually enhance their games by adding new content and features. All of their games are free to play, and they generate revenue through the in-game sale of virtual goods and advertising. “
A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $7.00 price objective on shares of Zynga in a report on Wednesday, September 18th. BidaskClub cut Zynga from a sell rating to a strong sell rating in a research note on Wednesday. Barclays set a $6.00 target price on Zynga and gave the stock a hold rating in a research note on Monday, October 21st. Finally, ValuEngine cut Zynga from a hold rating to a sell rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Zynga has a consensus rating of Buy and a consensus target price of $7.15.
ZNGA opened at $6.15 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 307.50, a P/E/G ratio of 2.61 and a beta of 0.29. The firm’s fifty day moving average price is $6.22 and its two-hundred day moving average price is $6.10. Zynga has a 1 year low of $3.87 and a 1 year high of $6.65.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.05. The firm had revenue of $345.29 million for the quarter, compared to the consensus estimate of $330.56 million. Zynga had a net margin of 3.94% and a negative return on equity of 11.86%. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 EPS. As a group, equities analysts anticipate that Zynga will post 0.15 EPS for the current year.
In related news, COO Matthew S. Bromberg sold 12,000 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $6.27, for a total value of $75,240.00. Following the sale, the chief operating officer now directly owns 728,592 shares in the company, valued at approximately $4,568,271.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Regina E. Dugan sold 60,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $6.21, for a total value of $372,600.00. Following the completion of the sale, the director now owns 224,262 shares in the company, valued at $1,392,667.02. The disclosure for this sale can be found here. Insiders have sold a total of 1,418,153 shares of company stock worth $8,861,862 over the last quarter. Company insiders own 9.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its stake 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 during the period. River & Mercantile Asset Management LLP raised its stake in Zynga by 0.3% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 1,096,389 shares of the company’s stock valued at $6,715,000 after acquiring an additional 2,800 shares during the period. Prudential Financial Inc. raised its stake in Zynga by 8.2% in the 2nd quarter. Prudential Financial Inc. now owns 49,550 shares of the company’s stock valued at $304,000 after acquiring an additional 3,750 shares during the period. Flagship Harbor Advisors LLC raised its stake in Zynga by 65.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 10,150 shares of the company’s stock valued at $59,000 after acquiring an additional 4,000 shares during the period. Finally, Synovus Financial Corp bought a new stake in Zynga in the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 77.40% of the company’s stock.
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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