Zynga Inc. (ZNGA) Rating Reiterated by Benchmark Co.

Benchmark Co. restated their buy rating on shares of Zynga Inc. (NASDAQ:ZNGA) in a report issued on Wednesday, August 9th. They currently have a $4.35 price objective on the stock, up from their prior price objective of $3.65.

Several other equities analysts have also recently issued reports on ZNGA. BidaskClub cut shares of Zynga from a buy rating to a hold rating in a research note on Wednesday, August 2nd. Wedbush reaffirmed an outperform rating and issued a $4.65 price objective (up previously from $4.25) on shares of Zynga in a research note on Wednesday, August 9th. Cowen and Company reissued an outperform rating and issued a $4.50 target price on shares of Zynga in a research report on Thursday, August 3rd. Piper Jaffray Companies set a $4.00 target price on shares of Zynga and gave the stock a buy rating in a research report on Thursday, August 3rd. Finally, Canaccord Genuity lifted their target price on shares of Zynga from $3.00 to $3.50 and gave the stock a hold rating in a research report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Zynga presently has a consensus rating of Buy and a consensus target price of $4.01.

Shares of Zynga (ZNGA) traded up 1.40% on Wednesday, hitting $3.62. 5,760,884 shares of the stock were exchanged. The firm’s 50 day moving average price is $3.64 and its 200 day moving average price is $3.19. The firm’s market cap is $3.13 billion. Zynga has a one year low of $2.40 and a one year high of $3.86.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business had revenue of $209.20 million during the quarter, compared to analyst estimates of $201.64 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts anticipate that Zynga will post $0.09 earnings per share for the current year.

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In related news, Director William B. Gordon sold 549,637 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $3.52, for a total transaction of $1,934,722.24. Following the completion of the sale, the director now directly owns 832,603 shares in the company, valued at $2,930,762.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William B. Gordon sold 1,232,373 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the sale, the director now owns 832,603 shares of the company’s stock, valued at $2,914,110.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,818,010 shares of company stock valued at $6,377,868. 12.43% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of ZNGA. Norges Bank acquired a new stake in Zynga during the fourth quarter worth about $8,299,000. Teachers Advisors LLC boosted its stake in Zynga by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 750,305 shares of the company’s stock worth $1,928,000 after buying an additional 32,740 shares during the period. Nationwide Fund Advisors boosted its stake in Zynga by 49.5% in the first quarter. Nationwide Fund Advisors now owns 311,912 shares of the company’s stock worth $889,000 after buying an additional 103,210 shares during the period. Canada Pension Plan Investment Board boosted its stake in Zynga by 28.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,931,500 shares of the company’s stock worth $11,205,000 after buying an additional 865,100 shares during the period. Finally, First Trust Advisors LP boosted its stake in Zynga by 10.8% in the first quarter. First Trust Advisors LP now owns 11,178,952 shares of the company’s stock worth $31,860,000 after buying an additional 1,093,280 shares during the period. Hedge funds and other institutional investors own 68.43% of the company’s stock.

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.

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