Zynga (ZNGA) Sets New 1-Year High at $5.44

Shares of Zynga Inc (NASDAQ:ZNGA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.44 and last traded at $5.43, with a volume of 384417 shares changing hands. The stock had previously closed at $5.33.

Several brokerages recently issued reports on ZNGA. ValuEngine upgraded shares of Zynga from a “hold” rating to a “buy” rating in a report on Wednesday, December 5th. Barclays set a $4.00 price target on shares of Zynga and gave the stock a “sell” rating in a research note on Sunday, December 23rd. BidaskClub lowered shares of Zynga from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Macquarie upgraded shares of Zynga from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 11th. Finally, Goldman Sachs Group initiated coverage on shares of Zynga in a research note on Wednesday, January 30th. They set a “buy” rating and a $5.30 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Zynga has an average rating of “Buy” and a consensus target price of $4.98.

The company has a market capitalization of $4.92 billion, a PE ratio of 271.00, a PEG ratio of 1.75 and a beta of 0.41.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, February 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). The business had revenue of $248.69 million for the quarter, compared to analysts’ expectations of $245.78 million. Zynga had a return on equity of 1.14% and a net margin of 1.70%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. Equities analysts forecast that Zynga Inc will post 0.14 earnings per share for the current fiscal year.

In other news, insider Jeffrey Miles Ryan sold 36,798 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.35, for a total transaction of $196,869.30. Following the completion of the transaction, the insider now directly owns 57,970 shares of the company’s stock, valued at $310,139.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jeffrey Buckley sold 100,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $4.00, for a total value of $400,000.00. Following the transaction, the chief accounting officer now directly owns 36,808 shares of the company’s stock, valued at $147,232. The disclosure for this sale can be found here. Insiders have sold 388,492 shares of company stock worth $1,754,737 over the last quarter. Insiders own 11.87% of the company’s stock.

Several institutional investors have recently made changes to their positions in ZNGA. FMR LLC grew its position in shares of Zynga by 6,486,449.1% during the fourth quarter. FMR LLC now owns 15,048,794 shares of the company’s stock worth $59,142,000 after buying an additional 15,048,562 shares in the last quarter. BlackRock Inc. grew its position in shares of Zynga by 19.0% during the third quarter. BlackRock Inc. now owns 72,114,183 shares of the company’s stock worth $289,178,000 after buying an additional 11,520,469 shares in the last quarter. Norges Bank acquired a new position in shares of Zynga during the fourth quarter worth about $41,398,000. Brown Advisory Inc. grew its position in shares of Zynga by 1,304.6% during the fourth quarter. Brown Advisory Inc. now owns 6,963,422 shares of the company’s stock worth $27,367,000 after buying an additional 6,467,661 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Zynga during the fourth quarter worth about $19,741,000. 77.15% of the stock is owned by institutional investors and hedge funds.

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Zynga Company Profile (NASDAQ:ZNGA)

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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