Zynga (NASDAQ:ZNGA) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.
ZNGA has been the subject of a number of other research reports. Credit Suisse Group raised their price target on shares of Zynga from $4.00 to $4.90 and gave the company an “underperform” rating in a report on Thursday, August 2nd. Wedbush set a $6.00 price target on shares of Zynga and gave the company a “buy” rating in a report on Wednesday, May 30th. Morgan Stanley raised their price target on shares of Zynga from $4.70 to $5.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $5.00 target price on shares of Zynga in a report on Tuesday, May 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $5.00 target price on shares of Zynga in a report on Friday, May 11th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $4.67.
Shares of Zynga stock opened at $3.72 on Friday. The company has a market capitalization of $3.29 billion, a P/E ratio of 124.00, a P/E/G ratio of 2.31 and a beta of 0.39. Zynga has a fifty-two week low of $3.20 and a fifty-two week high of $4.57.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, August 1st. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.03). The company had revenue of $217.05 million during the quarter, compared to analyst estimates of $212.62 million. Zynga had a net margin of 4.04% and a return on equity of 2.37%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. research analysts expect that Zynga will post 0.07 EPS for the current year.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $4.20, for a total transaction of $50,400.00. Following the completion of the sale, the director now owns 210,743 shares of the company’s stock, valued at approximately $885,120.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew S. Bromberg sold 20,000 shares of Zynga stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $4.26, for a total transaction of $85,200.00. Following the sale, the chief operating officer now directly owns 389,945 shares of the company’s stock, valued at approximately $1,661,165.70. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $234,120 in the last ninety days. Company insiders own 11.87% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Zynga by 36.6% in the 2nd quarter. BlackRock Inc. now owns 60,593,714 shares of the company’s stock valued at $246,618,000 after buying an additional 16,221,442 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Zynga by 4.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 39,695,436 shares of the company’s stock valued at $161,560,000 after buying an additional 1,689,711 shares during the period. Cadian Capital Management LP grew its holdings in shares of Zynga by 38.1% in the 2nd quarter. Cadian Capital Management LP now owns 21,150,000 shares of the company’s stock valued at $86,081,000 after buying an additional 5,835,562 shares during the period. First Trust Advisors LP grew its holdings in shares of Zynga by 17.3% in the 2nd quarter. First Trust Advisors LP now owns 16,697,603 shares of the company’s stock valued at $67,959,000 after buying an additional 2,464,392 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Zynga by 276.2% in the 1st quarter. Point72 Asset Management L.P. now owns 15,963,897 shares of the company’s stock valued at $58,428,000 after buying an additional 11,720,451 shares during the period. 71.52% of the stock is owned by institutional investors.
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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