Zynga (ZNGA) Downgraded by BidaskClub to “Hold”

Zynga (NASDAQ:ZNGA) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.

ZNGA has been the subject of a number of other reports. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Thursday, August 10th. Goldman Sachs Group started coverage on shares of Zynga in a report on Friday, September 8th. They issued a “neutral” rating and a $3.90 target price for the company. KeyCorp restated a “hold” rating on shares of Zynga in a report on Tuesday, October 17th. Wedbush restated an “outperform” rating and issued a $4.65 target price (up previously from $4.25) on shares of Zynga in a report on Wednesday, August 9th. Finally, Cowen restated a “buy” rating and issued a $4.50 target price on shares of Zynga in a report on Thursday, October 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Zynga has a consensus rating of “Buy” and an average price target of $4.11.

Zynga (ZNGA) opened at $3.77 on Wednesday. Zynga has a 52 week low of $2.40 and a 52 week high of $4.34.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $211.98 million. During the same period last year, the company posted ($0.05) EPS. The business’s revenue was up 23.1% on a year-over-year basis. sell-side analysts anticipate that Zynga will post 0.02 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in ZNGA. American Century Companies Inc. bought a new stake in Zynga during the 2nd quarter valued at about $33,218,000. Marshall Wace North America L.P. lifted its holdings in Zynga by 961.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 7,304,569 shares of the company’s stock valued at $29,219,000 after buying an additional 6,616,326 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in Zynga by 453.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock valued at $26,866,000 after buying an additional 5,822,916 shares in the last quarter. Renaissance Technologies LLC lifted 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 buying an additional 5,759,000 shares in the last quarter. Finally, Telemark Asset Management LLC bought a new stake in Zynga during the 3rd quarter valued at about $18,900,000. Institutional investors own 70.49% 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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