Zynga (NASDAQ:ZNGA) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Zynga (NASDAQ:ZNGAGet Rating) in a research note issued on Thursday. The firm set a “hold” rating on the stock.

Several other equities analysts have also weighed in on ZNGA. Robert W. Baird lowered shares of Zynga from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $9.00 in a research report on Friday, February 25th. Benchmark lowered shares of Zynga from a “buy” rating to a “hold” rating in a research report on Monday, February 28th. UBS Group lowered their price target on shares of Zynga from $13.50 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 15th. Barclays lowered shares of Zynga from an “overweight” rating to an “equal weight” rating in a research report on Thursday, February 10th. Finally, MKM Partners lowered shares of Zynga from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $10.50 to $9.86 in a research report on Friday, March 4th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Zynga has a consensus rating of “Hold” and a consensus price target of $10.48.

Shares of ZNGA opened at $8.18 on Thursday. The firm has a market capitalization of $9.26 billion, a PE ratio of -81.80 and a beta of 0.03. The company’s 50-day moving average is $8.57 and its 200-day moving average is $8.12. Zynga has a fifty-two week low of $5.57 and a fifty-two week high of $11.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.12.

Zynga (NASDAQ:ZNGAGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). The company had revenue of $694.90 million during the quarter, compared to the consensus estimate of $749.20 million. Zynga had a negative net margin of 3.76% and a positive return on equity of 0.72%. Analysts predict that Zynga will post 0.19 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of ZNGA. Mercer Global Advisors Inc. ADV boosted its stake in shares of Zynga by 61.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,860 shares of the company’s stock valued at $165,000 after purchasing an additional 8,349 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Zynga by 46.2% in the 3rd quarter. First Republic Investment Management Inc. now owns 69,678 shares of the company’s stock valued at $525,000 after purchasing an additional 22,005 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of Zynga in the 3rd quarter valued at approximately $126,000. Geode Capital Management LLC boosted its stake in shares of Zynga by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,966,524 shares of the company’s stock valued at $97,651,000 after purchasing an additional 164,591 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Zynga by 52.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 69,791 shares of the company’s stock valued at $525,000 after purchasing an additional 23,931 shares in the last quarter. Institutional investors own 77.40% of the company’s stock.

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.

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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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