Zynga Inc (NASDAQ:ZNGA) Receives $6.81 Consensus Target Price from Analysts

Zynga Inc (NASDAQ:ZNGA) has received a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.81.

ZNGA has been the subject of several analyst reports. Bank of America raised 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. Stephens upgraded Zynga from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $6.50 to $8.25 in a report on Thursday, May 30th. Benchmark reiterated a “buy” rating and issued a $8.00 price target (up from $5.00) on shares of Zynga in a report on Thursday, May 2nd. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Robert W. Baird upgraded Zynga from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $5.00 to $8.00 in a report on Thursday, May 2nd.

In other news, COO Matthew S. Bromberg sold 41,500 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $6.08, for a total value of $252,320.00. Following the completion of the sale, the chief operating officer now owns 670,727 shares of the company’s stock, valued at approximately $4,078,020.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Miles Ryan sold 36,798 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.09, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 161,298 shares of company stock worth $991,435 over the last 90 days. 9.40% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Machina Capital S.A.S. purchased a new position in shares of Zynga during the 2nd quarter valued at about $27,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Zynga during the 2nd quarter valued at about $30,000. Cornerstone Advisors Inc. purchased a new position in shares of Zynga during the 2nd quarter valued at about $35,000. Flagship Harbor Advisors LLC purchased a new position in shares of Zynga during the 2nd quarter valued at about $37,000. Finally, Buckingham Asset Management LLC purchased a new position in shares of Zynga in the 1st quarter valued at about $61,000. 73.47% of the stock is owned by hedge funds and other institutional investors.

Zynga stock traded down $0.07 during midday trading on Friday, reaching $6.09. 11,482,383 shares of the stock traded hands, compared to its average volume of 22,286,674. The business’s fifty day moving average price is $6.21. Zynga has a 12 month low of $3.32 and a 12 month high of $6.65. The company has a market cap of $5.63 billion, a PE ratio of 304.50, a P/E/G ratio of 3.08 and a beta of 0.25. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). Zynga had a negative net margin of 16.50% and a negative return on equity of 10.42%. The firm had revenue of $306.50 million for the quarter, compared to the consensus estimate of $293.18 million. Zynga’s revenue was up 41.2% compared to the same quarter last year. As a group, research analysts predict that Zynga will post 0.13 EPS for the current fiscal year.

About Zynga

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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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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