BidaskClub Lowers Zynga (ZNGA) to Hold

BidaskClub cut shares of Zynga (NASDAQ:ZNGA) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Other analysts have also recently issued reports about the company. Benchmark restated a buy rating and issued a $4.35 target price (up from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Wedbush reiterated an outperform rating and set a $4.65 price target (up from $4.25) on shares of Zynga in a report on Wednesday, August 9th. KeyCorp reiterated a hold rating on shares of Zynga in a report on Tuesday, October 17th. Robert W. Baird reiterated a hold rating and set a $4.00 price target on shares of Zynga in a report on Friday, September 15th. Finally, Zacks Investment Research cut Zynga from a buy rating to a hold rating in a report on Thursday, October 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $4.11.

Shares of Zynga (NASDAQ:ZNGA) opened at $3.78 on Wednesday. Zynga has a twelve month low of $2.40 and a twelve month high of $4.34.

Zynga (NASDAQ:ZNGA) last issued its earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $211.98 million. Zynga had a negative return on equity of 1.37% and a negative net margin of 2.65%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. sell-side analysts expect that Zynga will post 0.02 EPS for the current fiscal year.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $3.86, for a total transaction of $46,320.00. Following the completion of the transaction, the director now directly owns 139,900 shares in the company, valued at approximately $540,014. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.43% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Zynga by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 60,801,279 shares of the company’s stock valued at $221,316,000 after acquiring an additional 164,384 shares during the period. Renaissance Technologies LLC boosted its holdings in Zynga by 33.4% during the 2nd quarter. Renaissance Technologies LLC now owns 23,009,600 shares of the company’s stock valued at $83,755,000 after acquiring an additional 5,759,000 shares during the period. First Trust Advisors LP boosted its holdings in Zynga by 14.8% during the 3rd quarter. First Trust Advisors LP now owns 13,188,402 shares of the company’s stock valued at $49,852,000 after acquiring an additional 1,697,862 shares during the period. American Century Companies Inc. boosted its holdings in Zynga by 1.5% during the 3rd quarter. American Century Companies Inc. now owns 9,266,153 shares of the company’s stock valued at $35,026,000 after acquiring an additional 140,368 shares during the period. Finally, River & Mercantile Asset Management LLP boosted its holdings in Zynga by 126.3% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 7,707,049 shares of the company’s stock valued at $29,171,000 after acquiring an additional 4,301,645 shares during the period. Institutional investors own 70.49% of the company’s stock.

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About Zynga

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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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