Zynga (NASDAQ:ZNGA) PT Set at $6.00 by Barclays

Zynga (NASDAQ:ZNGA) has been given a $6.00 price objective by stock analysts at Barclays in a report released on Monday, TipRanks reports. The brokerage currently has a “hold” rating on the stock. Barclays‘s price objective would suggest a potential downside of 1.32% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Zynga in a report on Wednesday, September 18th. Robert W. Baird set a $8.00 price objective on shares of Zynga and gave the stock a “buy” rating in a report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Zynga in a report on Tuesday, August 27th. Morgan Stanley set a $7.00 price objective on shares of Zynga and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Bank of America raised their target price on Zynga from $6.60 to $6.70 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Zynga currently has an average rating of “Hold” and an average price target of $6.96.

Zynga stock traded down $0.05 during mid-day trading on Monday, reaching $6.08. The company’s stock had a trading volume of 13,005,589 shares, compared to its average volume of 17,367,834. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 304.00, a PEG ratio of 3.21 and a beta of 0.28. The business has a 50 day moving average price of $5.97 and a 200-day moving average price of $5.98. 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 has a twelve month low of $3.32 and a twelve month high of $6.65.

Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). The business had revenue of $306.50 million during 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 firm’s revenue was up 41.2% compared to the same quarter last year. On average, equities analysts expect that Zynga will post 0.13 EPS for the current fiscal year.

In related news, insider Bernard Jin Kim sold 54,678 shares of Zynga stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $6.21, for a total transaction of $339,550.38. Following the sale, the insider now directly owns 782,899 shares in the company, valued at $4,861,802.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 12,000 shares of Zynga stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $6.14, for a total transaction of $73,680.00. Following the sale, the chief operating officer now owns 716,401 shares in the company, valued at $4,398,702.14. The disclosure for this sale can be found here. Insiders sold 337,890 shares of company stock worth $2,028,282 over the last quarter. 9.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. World Asset Management Inc raised its stake in shares of Zynga by 15.4% during the second quarter. World Asset Management Inc now owns 20,878 shares of the company’s stock valued at $128,000 after purchasing an additional 2,785 shares in the last quarter. Westpac Banking Corp raised its stake in shares of Zynga by 0.9% during the second quarter. Westpac Banking Corp now owns 297,994 shares of the company’s stock valued at $1,827,000 after purchasing an additional 2,800 shares in the last quarter. River & Mercantile Asset Management LLP raised its stake in shares of Zynga by 0.3% during the second quarter. River & Mercantile Asset Management LLP now owns 1,096,389 shares of the company’s stock valued at $6,715,000 after purchasing an additional 2,800 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Zynga by 26.8% during the second quarter. First Hawaiian Bank now owns 15,428 shares of the company’s stock valued at $95,000 after purchasing an additional 3,259 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Zynga by 8.2% during the second quarter. Prudential Financial Inc. now owns 49,550 shares of the company’s stock valued at $304,000 after purchasing an additional 3,750 shares in the last quarter. Institutional investors and hedge funds own 72.13% of the company’s stock.

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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