Zynga Inc. (NASDAQ:ZNGA) has been assigned an average rating of “Buy” from the seventeen research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $12.41.
ZNGA has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Zynga from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, February 11th. Bank of America raised shares of Zynga from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research report on Wednesday, May 12th. Zacks Investment Research raised shares of Zynga from a “strong sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Wednesday, April 14th. Credit Suisse Group raised their price target on shares of Zynga from $8.00 to $9.00 and gave the stock an “underperform” rating in a research note on Thursday, February 11th. Finally, BMO Capital Markets assumed coverage on shares of Zynga in a research note on Monday, April 19th. They set an “outperform” rating and a $15.00 price target for the company.
Shares of ZNGA stock opened at $10.43 on Tuesday. The company has a 50 day moving average of $10.55. The company has a market capitalization of $11.36 billion, a PE ratio of -30.68, a P/E/G ratio of 2.61 and a beta of 0.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.44. Zynga has a 1 year low of $7.77 and a 1 year high of $12.32.
In related news, insider Bernard Jin Kim sold 24,000 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $10.32, for a total transaction of $247,680.00. Following the transaction, the insider now owns 1,023,011 shares in the company, valued at $10,557,473.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 5,000 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $10.13, for a total transaction of $50,650.00. Following the transaction, the director now owns 12,438 shares in the company, valued at approximately $125,996.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 397,479 shares of company stock worth $4,118,057. Corporate insiders own 8.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Koshinski Asset Management Inc. purchased a new stake in Zynga during the fourth quarter valued at approximately $534,000. Berman Capital Advisors LLC increased its stake in shares of Zynga by 254.3% in the first quarter. Berman Capital Advisors LLC now owns 2,774 shares of the company’s stock worth $28,000 after purchasing an additional 1,991 shares in the last quarter. Credit Agricole S A increased its stake in shares of Zynga by 200.0% in the first quarter. Credit Agricole S A now owns 3,000 shares of the company’s stock worth $30,000 after purchasing an additional 2,000 shares in the last quarter. Baillie Gifford & Co. purchased a new position in Zynga during the fourth quarter valued at $32,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in Zynga during the first quarter valued at $34,000. 80.78% of the stock is owned by institutional investors and hedge funds.
Zynga Inc provides social game services in the United States and internationally. The company develops, markets, and operates social games as live services played on mobile platforms, such as Apple iOS and Google's Android operating systems; social networking platforms, such as Facebook and Snapchat; and personal computers consoles, such as Nintendo's Switch game console, and other platforms and consoles.
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