Wedbush Analysts Give Zynga (ZNGA) a $6.00 Price Target

Zynga (NASDAQ:ZNGA) has been given a $6.00 target price by investment analysts at Wedbush in a research note issued on Thursday. The firm presently has a “buy” rating on the stock. Wedbush’s target price would indicate a potential upside of 64.84% from the stock’s previous close.

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Zynga from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Barclays initiated coverage on shares of Zynga in a research note on Thursday, August 9th. They set an “underweight” rating and a $3.70 target price on the stock. Morgan Stanley boosted their target price on shares of Zynga from $4.50 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $5.25 target price on shares of Zynga in a research note on Thursday, October 11th. Four equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. Zynga presently has an average rating of “Hold” and an average target price of $4.89.

NASDAQ ZNGA opened at $3.64 on Thursday. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 121.33, a P/E/G ratio of 2.33 and a beta of 0.27. Zynga has a 1 year low of $3.20 and a 1 year high of $4.57.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company had revenue of $233.24 million for the quarter, compared to analysts’ expectations of $224.54 million. Zynga had a return on equity of 2.37% and a net margin of 4.04%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, equities research analysts forecast that Zynga will post 0.07 EPS for the current fiscal year.

In other news, Director Mark J. Pincus sold 437,322 shares of the business’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $3.70, for a total transaction of $1,618,091.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $3.92, for a total transaction of $47,040.00. Following the transaction, the director now owns 213,277 shares in the company, valued at $836,045.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 576,322 shares of company stock worth $2,177,796. 11.87% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB boosted its holdings in Zynga by 48.8% in the first quarter. Xact Kapitalforvaltning AB now owns 121,075 shares of the company’s stock worth $443,000 after purchasing an additional 39,700 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Zynga by 75.2% in the first quarter. Allianz Asset Management GmbH now owns 3,350,137 shares of the company’s stock worth $12,262,000 after purchasing an additional 1,438,155 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Zynga by 40.0% in the second quarter. State of Alaska Department of Revenue now owns 84,620 shares of the company’s stock worth $344,000 after purchasing an additional 24,190 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Zynga in the second quarter worth $373,000. Finally, Acadian Asset Management LLC bought a new stake in Zynga in the second quarter worth $254,000. Institutional investors and hedge funds own 73.97% of the company’s stock.

Zynga Company Profile

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 iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.

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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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