Zynga (NASDAQ:ZNGA) Coverage Initiated by Analysts at StockNews.com

Posted by on Jun 10th, 2022

StockNews.com started coverage on shares of Zynga (NASDAQ:ZNGA – Get Rating) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts also recently issued reports on ZNGA. Robert W. Baird downgraded shares of Zynga from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $9.00 in a report on Friday, February 25th. Benchmark downgraded shares of Zynga from a “buy” rating to a “hold” rating in a 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 report on Tuesday, March 15th. MKM Partners downgraded 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 report on Friday, March 4th. Finally, Barclays downgraded shares of Zynga from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 10th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.48.

Shares of NASDAQ:ZNGA opened at $8.18 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $9.26 billion, a PE ratio of -81.80 and a beta of 0.03. Zynga has a twelve month low of $5.57 and a twelve month high of $11.25. The company has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $8.17.

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

A number of hedge funds and other institutional investors have recently modified their holdings of ZNGA. Elequin Capital LP bought a new position in Zynga during the first quarter valued at approximately $33,000. Quadrant Capital Group LLC grew its position in Zynga by 168.3% during the first quarter. Quadrant Capital Group LLC now owns 4,209 shares of the company’s stock valued at $39,000 after acquiring an additional 2,640 shares during the last quarter. Credit Agricole S A grew its position in Zynga by 130.0% during the fourth quarter. Credit Agricole S A now owns 6,900 shares of the company’s stock valued at $44,000 after acquiring an additional 3,900 shares during the last quarter. Exane Derivatives bought a new position in Zynga during the first quarter valued at approximately $47,000. Finally, Prospera Financial Services Inc bought a new position in Zynga during the first quarter valued at approximately $63,000. Institutional investors and hedge funds own 77.40% of the company’s stock.

Zynga Company Profile (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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