Zynga (ZNGA) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Zynga (NASDAQ:ZNGA) from a strong-buy rating to a hold rating in a research report report published on Saturday morning.

According to Zacks, “Zynga Inc. is the world’s largest social game developer with users playing their games which include CityVille, FarmVille, FrontierVille, Words With Friends, Mafia Wars, Zynga Poker, Cafe World, and Treasure Isle. Zynga Inc. games are available on a number of global platforms including Facebook, MySpace, Yahoo, the iPad, the iPhone and Android devices. They operate their games as live services, by which they mean that they continue to support and update games after launch and gather daily, metrics-based player feedback that enable them to continually enhance their games by adding new content and features. All of their games are free to play, and they generate revenue through the in-game sale of virtual goods and advertising. “

Several other research analysts have also weighed in on ZNGA. Robert W. Baird reissued a hold rating and set a $4.00 price objective on shares of Zynga in a research note on Friday, September 15th. Cowen reissued a buy rating and set a $4.50 price objective on shares of Zynga in a research note on Thursday, October 12th. KeyCorp reissued a hold rating on shares of Zynga in a research note on Tuesday, October 17th. Wedbush set a $5.00 price objective on shares of Zynga and gave the stock a buy rating in a research note on Wednesday, October 18th. Finally, BidaskClub lowered shares of Zynga from a buy rating to a hold rating in a research note on Wednesday, December 6th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Zynga presently has an average rating of Buy and an average target price of $4.14.

Zynga (NASDAQ:ZNGA) opened at $3.97 on Friday. Zynga has a one year low of $2.40 and a one year high of $4.34. The firm has a market cap of $3,460.00, a P/E ratio of -132.33, a P/E/G ratio of 2.92 and a beta of 0.76.

Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The business had revenue of $224.60 million for the quarter, compared to analyst estimates of $211.98 million. During the same quarter last year, the firm earned ($0.05) EPS. Zynga’s quarterly revenue was up 23.1% compared to the same quarter last year. equities analysts anticipate that Zynga will post 0.02 earnings per share for the current year.

In other news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $3.97, for a total value of $47,640.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew S. Bromberg sold 50,000 shares of Zynga stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $3.95, for a total transaction of $197,500.00. Following the completion of the sale, the chief operating officer now owns 294,206 shares in the company, valued at $1,162,113.70. The disclosure for this sale can be found here. Insiders sold 236,000 shares of company stock worth $930,600 over the last quarter. 12.43% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ZNGA. Alyeska Investment Group L.P. increased its holdings in Zynga by 453.4% during the third quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock worth $26,866,000 after buying an additional 5,822,916 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Zynga by 33.4% during the second quarter. Renaissance Technologies LLC now owns 23,009,600 shares of the company’s stock worth $83,755,000 after buying an additional 5,759,000 shares during the last quarter. Telemark Asset Management LLC acquired a new position in Zynga during the third quarter worth $18,900,000. River & Mercantile Asset Management LLP increased its holdings in Zynga by 126.3% during the third quarter. River & Mercantile Asset Management LLP now owns 7,707,049 shares of the company’s stock worth $29,171,000 after buying an additional 4,301,645 shares during the last quarter. Finally, First Quadrant L P CA increased its holdings in Zynga by 164.3% during the third quarter. First Quadrant L P CA now owns 6,002,422 shares of the company’s stock worth $22,689,000 after buying an additional 3,731,357 shares during the last quarter. Institutional investors and hedge funds own 70.46% of the company’s stock.

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Zynga Company Profile

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.

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