Zynga Inc. (NASDAQ:ZNGA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Zynga Inc. (NASDAQ:ZNGAGet Rating) have been assigned an average rating of “Hold” from the twenty brokerages that are covering the stock, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $10.76.

Several equities analysts recently weighed in on ZNGA shares. BTIG Research lowered shares of Zynga from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 19th. Stifel Nicolaus downgraded shares of Zynga from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $10.00 in a report on Thursday, January 13th. Credit Suisse Group raised shares of Zynga from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $9.00 to $9.86 in a report on Tuesday, January 11th. Jefferies Financial Group downgraded shares of Zynga from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Tuesday, January 18th. Finally, MKM Partners downgraded shares of Zynga from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.50 to $9.86 in a report on Friday, March 4th.

ZNGA traded up $0.04 during trading on Friday, hitting $8.43. 181,357 shares of the company traded hands, compared to its average volume of 33,739,117. The firm has a market cap of $9.55 billion, a P/E ratio of -84.40 and a beta of -0.07. The stock’s fifty day moving average is $8.99 and its 200 day moving average is $8.00. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.43. Zynga has a one year low of $5.57 and a one year high of $11.25.

Zynga (NASDAQ:ZNGAGet Rating) last posted its quarterly earnings results on Wednesday, February 9th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.07). The company had revenue of $695.40 million for the quarter, compared to the consensus estimate of $719.60 million. Zynga had a negative net margin of 3.72% and a positive return on equity of 2.74%. On average, equities research analysts forecast that Zynga will post 0.22 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC raised its position in shares of Zynga by 58.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 32,092,306 shares of the company’s stock worth $241,655,000 after purchasing an additional 11,839,136 shares during the last quarter. Norges Bank bought a new stake in Zynga in the 4th quarter worth about $60,517,000. William Blair Investment Management LLC increased its holdings in Zynga by 45.4% in the 4th quarter. William Blair Investment Management LLC now owns 26,343,092 shares of the company’s stock worth $168,596,000 after buying an additional 8,229,034 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Zynga by 52,419.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 7,519,206 shares of the company’s stock worth $69,477,000 after buying an additional 7,504,889 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in Zynga in the 4th quarter worth about $47,149,000. 79.94% of the stock is owned by institutional investors and hedge funds.

About Zynga (Get Rating)

Zynga Inc develops, markets, and operates social game services in the United States and internationally. The company provides 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.

Further Reading

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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