Zynga (NASDAQ:ZNGA) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Zynga (NASDAQ:ZNGA) from a strong sell rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

ZNGA has been the topic of several other research reports. Morgan Stanley set a $7.00 price objective on shares of Zynga and gave the company a buy rating in a research note on Monday, July 15th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $7.00 price target on shares of Zynga in a research report on Wednesday, September 18th. Bank of America upped their price target on shares of Zynga from $6.60 to $6.70 and gave the stock a neutral rating in a research report on Thursday, August 1st. Jefferies Financial Group began coverage on shares of Zynga in a research report on Thursday, July 11th. They set a buy rating and a $7.50 price target for the company. Finally, Wedbush reaffirmed an outperform rating and set a $9.00 price target on shares of Zynga in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $6.96.

Shares of ZNGA opened at $6.14 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 307.00, a PEG ratio of 3.04 and a beta of 0.28. The company’s 50 day simple moving average is $5.86 and its 200 day simple moving average is $5.93. Zynga has a 1 year low of $3.32 and a 1 year high of $6.65.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.09). The firm had revenue of $306.50 million for the quarter, compared to analysts’ expectations of $293.18 million. Zynga had a negative net margin of 16.50% and a negative return on equity of 10.42%. Zynga’s revenue for the quarter was up 41.2% compared to the same quarter last year. Equities analysts expect that Zynga will post 0.13 EPS for the current fiscal year.

In other news, COO Matthew S. Bromberg sold 41,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.30, for a total value of $261,450.00. Following the completion of the sale, the chief operating officer now owns 659,146 shares of the company’s stock, valued at $4,152,619.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Miles Ryan sold 28,943 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $5.79, for a total transaction of $167,579.97. Following the completion of the sale, the insider now directly owns 15,784 shares of the company’s stock, valued at approximately $91,389.36. The disclosure for this sale can be found here. Insiders have sold 299,923 shares of company stock valued at $1,798,033 in the last ninety days. 9.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Machina Capital S.A.S. acquired a new stake in shares of Zynga in the second quarter worth $27,000. Steward Partners Investment Advisory LLC acquired a new stake in Zynga during the 2nd quarter valued at $30,000. Cornerstone Advisors Inc. acquired a new stake in Zynga during the 2nd quarter valued at $35,000. Flagship Harbor Advisors LLC acquired a new stake in Zynga during the 2nd quarter valued at $37,000. Finally, Parametrica Management Ltd acquired a new stake in Zynga during the 2nd quarter valued at $78,000. 71.37% of the stock is owned by institutional investors.

About Zynga

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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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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