Wedbush set a $6.00 price objective on Zynga (NASDAQ:ZNGA) in a research note released on Thursday. The firm currently has a buy rating on the stock. Wedbush also issued estimates for Zynga’s Q1 2019 earnings at $0.04 EPS, Q2 2019 earnings at $0.05 EPS, Q3 2019 earnings at $0.06 EPS and Q4 2019 earnings at $0.06 EPS.
Several other research analysts also recently commented on ZNGA. BidaskClub upgraded shares of Zynga from a strong sell rating to a sell rating in a research report on Tuesday, February 6th. KeyCorp restated a hold rating on shares of Zynga in a research report on Tuesday, October 17th. Consumer Edge assumed coverage on shares of Zynga in a research report on Wednesday, January 3rd. They set an overweight rating and a $4.50 price objective for the company. Zacks Investment Research downgraded shares of Zynga from a strong-buy rating to a hold rating in a research report on Wednesday, November 15th. Finally, Cowen restated a buy rating and set a $4.50 price objective on shares of Zynga in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $4.19.
Shares of Zynga (NASDAQ:ZNGA) opened at $3.31 on Thursday. The stock has a market capitalization of $2,880.00, a P/E ratio of 110.33, a P/E/G ratio of 2.43 and a beta of 0.51. Zynga has a 12 month low of $2.40 and a 12 month high of $4.34.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $3.74, for a total value of $44,880.00. Following the sale, the director now owns 247,900 shares of the company’s stock, valued at $927,146. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Matthew S. Bromberg sold 50,000 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was 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 directly owns 294,206 shares in the company, valued at approximately $1,162,113.70. The disclosure for this sale can be found here. Insiders have sold 256,000 shares of company stock valued at $1,007,560 over the last quarter. Company insiders own 12.43% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of Zynga by 4.5% in the second quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock worth $274,000 after purchasing an additional 3,261 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Zynga by 9.1% in the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock worth $162,000 after purchasing an additional 3,700 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Zynga by 23.2% in the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock worth $112,000 after purchasing an additional 5,815 shares during the last quarter. Bourgeon Capital Management LLC grew its stake in shares of Zynga by 147.1% in the fourth quarter. Bourgeon Capital Management LLC now owns 25,200 shares of the company’s stock worth $101,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Zynga by 21.2% during the second quarter. Principal Financial Group Inc. now owns 112,517 shares of the company’s stock valued at $410,000 after acquiring an additional 19,655 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.
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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