Jefferies Financial Group initiated coverage on shares of Zynga (NASDAQ:ZNGA) in a research report report published on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $7.50 target price on the stock. Jefferies Financial Group also issued estimates for Zynga’s FY2021 earnings at $0.16 EPS.
Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Robert W. Baird upgraded shares of Zynga from a neutral rating to an outperform rating and lifted their target price for the company from $5.00 to $8.00 in a report on Thursday, May 2nd. Bank of America set a $54.00 target price on shares of Fortis and gave the company a buy rating in a report on Thursday, May 2nd. KeyCorp boosted their price target on shares of Zynga from $5.00 to $6.00 and gave the stock an overweight rating in a research note on Monday, April 29th. Finally, Stephens assumed coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They issued an overweight rating and a $114.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $6.56.
Zynga stock opened at $6.27 on Thursday. Zynga has a fifty-two week low of $3.32 and a fifty-two week high of $6.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50 day moving average of $6.18. The firm has a market cap of $5.85 billion, a P/E ratio of 313.50, a PEG ratio of 3.21 and a beta of 0.28.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.17). Zynga had a negative net margin of 12.34% and a negative return on equity of 7.09%. The company had revenue of $265.00 million during the quarter, compared to analyst estimates of $255.45 million. During the same quarter last year, the business posted $0.01 EPS. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. As a group, research analysts predict that Zynga will post 0.13 earnings per share for the current year.
In other news, insider Jeffrey Miles Ryan sold 36,798 shares of Zynga stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.09, for a total transaction of $224,099.82. Following the completion of the sale, the insider now directly owns 10,667 shares of the company’s stock, valued at approximately $64,962.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 41,500 shares of Zynga stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $5.27, for a total transaction of $218,705.00. Following the sale, the chief operating officer now directly owns 623,703 shares of the company’s stock, valued at $3,286,914.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,508,703 shares of company stock valued at $13,918,099. Insiders own 9.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ZNGA. Nordea Investment Management AB purchased a new stake in shares of Zynga in the first quarter valued at about $128,000. Marshall Wace North America L.P. raised its holdings in shares of Zynga by 719.7% in the first quarter. Marshall Wace North America L.P. now owns 1,868,966 shares of the company’s stock valued at $9,961,000 after buying an additional 1,640,946 shares during the last quarter. KCL Capital L.P. raised its holdings in shares of Zynga by 190.0% in the first quarter. KCL Capital L.P. now owns 1,450,000 shares of the company’s stock valued at $7,728,000 after buying an additional 950,000 shares during the last quarter. Marathon Trading Investment Management LLC purchased a new stake in shares of Zynga in the first quarter valued at about $67,000. Finally, AO Asset Management LP purchased a new stake in shares of Zynga in the first quarter valued at about $10,058,000. 73.37% of the stock is owned by institutional investors and hedge funds.
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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