Zynga (ZNGA) Downgraded to “Hold” at BidaskClub
BidaskClub cut shares of Zynga (NASDAQ:ZNGA) from a buy rating to a hold rating in a research note released on Wednesday morning.
Several other equities analysts have also issued reports on ZNGA. Benchmark restated a buy rating and set a $4.35 price target (up from $3.65) on shares of Zynga in a research note on Wednesday, August 9th. Wedbush restated an outperform rating and set a $4.65 price target (up from $4.25) on shares of Zynga in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Zynga from a hold rating to a buy rating and set a $4.25 price target on the stock in a research note on Thursday, August 10th. Robert W. Baird restated a hold rating and set a $4.00 price target on shares of Zynga in a research note on Friday, September 15th. Finally, KeyCorp restated a hold rating on shares of Zynga in a research note on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Zynga presently has an average rating of Buy and a consensus price target of $4.11.
Shares of Zynga (ZNGA) traded down $0.07 on Wednesday, reaching $3.70. The company had a trading volume of 5,933,100 shares, compared to its average volume of 10,600,460. Zynga has a 1 year low of $2.40 and a 1 year high of $4.34.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. Zynga had a negative return on equity of 1.37% and a negative net margin of 2.65%. The firm had revenue of $224.60 million for the quarter, compared to analyst estimates of $211.98 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. equities analysts anticipate that Zynga will post 0.02 EPS for the current fiscal year.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $3.86, for a total transaction of $46,320.00. Following the sale, the director now directly owns 139,900 shares of the company’s stock, valued at $540,014. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.43% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZNGA. World Asset Management Inc boosted its holdings in shares of Zynga by 0.4% in the 2nd quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after acquiring an additional 98 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Zynga by 23.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock worth $112,000 after acquiring an additional 5,815 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Zynga in the 3rd quarter worth approximately $150,000. Timber Hill LLC boosted its holdings in shares of Zynga by 49.0% in the 2nd quarter. Timber Hill LLC now owns 44,446 shares of the company’s stock worth $162,000 after acquiring an additional 14,616 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Zynga by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock worth $162,000 after acquiring an additional 3,700 shares in the last quarter. 70.49% of the stock is currently owned by institutional investors.
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Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.
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