Zacks Investment Research raised Zynga from a "hold" rating to a "buy" rating and set a $3.75 price objective for the company in a research report on Wednesday, May 10th. Alpha One also assigned news articles about the company an impact score of 71 out of 100, indicating that recent media coverage is likely to have an effect on the stock's share price in the near term. The stock has an average rating of "Buy" and an average target price of $3.62. Jefferies Group LLC reiterated a buy rating and set a $5.00 target price on shares of Zynga in a research report on Friday, May 5th. Finally, Benchmark Co. reiterated a buy rating and set a $3.65 target price on shares of Zynga in a research report on Friday, May 5th. Zynga presently has an average rating of Buy and an average target price of $3.62.
Shares of Zynga (NASDAQ:ZNGA) opened at 3.40 on Friday. Based on an average daily trading volume, of 8,261,790 shares, the days-to-cover ratio is now 2.3 days. Zynga has a one year low of $2.27 and a one year high of $3.52. The Market Capitalization of the company stands at 2.99 Billion. Shares are trading 0.59% above their 50-day moving average, and 8.68% below their 200-day moving average.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters' consensus estimate of ($0.01). The business had revenue of $194.30 million during the quarter, compared to analysts' expectations of $188.14 million. The Return on Equity (ROE) value stands at -5.6%.
The company reported an impressive total revenue of 741.42 Million in the last fiscal year.
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While looking at the Stock's Performance, Zynga, Inc. now shows a Weekly Performance of 0%, where Monthly Performance is 20.57%, Quarterly performance is 29.28%, 6 Months performance is 19.3% and yearly performance percentage is 34.92%. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and global copyright & trademark laws. The correct version of this report can be read at https://www.thecerbatgem.com/2017/05/19/zynga-znga-earns-daily-media-impact-rating-of-0-23.html. Also, CEO Frank D. Gibeau sold 167,440 shares of the firm's stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $2.73, for a total transaction of $457,111.20. Following the transaction, the chief executive officer now owns 1,115,834 shares of the company's stock, valued at approximately $3,046,226.82. The sale was disclosed in a filing with the SEC, which is available through this link.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm's stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $2.84, for a total transaction of $34,080.00. The disclosure for this sale can be found here. Insiders have sold 213,118 shares of company stock valued at $585,292 in the last quarter. The company has institutional ownership of 5.90%.
Several hedge funds and other institutional investors have recently modified their holdings of ZNGA. Salem Investment Counselors Inc. now owns 851,375 shares of the company's stock valued at $2,426,000 after buying an additional 20,325 shares during the period. Princeton Portfolio Strategies Group LLC boosted its stake in shares of Zynga by 43.6% in the first quarter. GSA Capital Partners LLP now owns 57,935 shares of the company's stock valued at $149,000 after buying an additional 32,994 shares during the period. Salem Investment Counselors Inc. boosted its position in Zynga by 2.4% in the first quarter. HighTower Advisors LLC bought a new position in Zynga during the first quarter valued at about $116,000.
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