BidaskClub Downgrades Zynga (NASDAQ:ZNGA) to Sell

BidaskClub lowered shares of Zynga (NASDAQ:ZNGA) from a hold rating to a sell rating in a research note published on Friday, BidAskClub reports.

A number of other equities analysts have also recently weighed in on the stock. Benchmark restated a buy rating and set a $8.00 price objective (up from $5.00) on shares of Zynga in a research report on Thursday, May 2nd. Stephens upgraded shares of Zynga from an equal weight rating to an overweight rating and upped their price objective for the stock from $6.50 to $8.25 in a research report on Thursday, May 30th. ValuEngine cut shares of Zynga from a buy rating to a hold rating in a research report on Tuesday, August 6th. Piper Jaffray Companies increased their target price on shares of Zynga from $6.00 to $7.25 and gave the company an overweight rating in a research report on Thursday, May 2nd. Finally, Wedbush increased their target price on shares of Zynga from $7.50 to $9.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $6.81.

NASDAQ:ZNGA opened at $5.65 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.99 and a current ratio of 1.99. The company has a fifty day moving average of $6.16 and a two-hundred day moving average of $5.72. The stock has a market capitalization of $5.32 billion, a PE ratio of 282.50, a P/E/G ratio of 2.84 and a beta of 0.25. Zynga has a fifty-two week low of $3.32 and a fifty-two week high of $6.65.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $306.50 million for the quarter, compared to analyst estimates of $293.18 million. Zynga had a negative return on equity of 10.42% and a negative net margin of 16.50%. The business’s revenue was up 41.2% compared to the same quarter last year. Research analysts forecast that Zynga will post 0.13 earnings per share for the current year.

In related news, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were 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 $4,078,020.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Miles Ryan sold 36,798 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 161,298 shares of company stock valued at $973,590 over the last quarter. Company insiders own 9.40% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Machina Capital S.A.S. purchased a new stake in shares of Zynga in the second quarter valued at about $27,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Zynga in the second quarter valued at about $30,000. Atria Investments LLC purchased a new stake in shares of Zynga in the second quarter valued at about $34,000. Cornerstone Advisors Inc. purchased a new stake in shares of Zynga in the second quarter valued at about $35,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Zynga in the second quarter valued at about $37,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Are all No-Load Funds Equal?

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.