Zynga (NASDAQ:ZNGA) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Zynga (NASDAQ:ZNGAGet Rating) in a report released on Saturday. The brokerage set a “hold” rating on the stock.

A number of other brokerages have also recently commented on ZNGA. MKM Partners cut shares of Zynga from a “buy” rating to a “neutral” rating and dropped their target price for the company from $10.50 to $9.86 in a report on Friday, March 4th. UBS Group decreased their target price on Zynga from $13.50 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, March 15th. Robert W. Baird lowered Zynga from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $9.00 in a research report on Friday, February 25th. Finally, Benchmark lowered shares of Zynga from a “buy” rating to a “hold” rating in a research report on Monday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Zynga presently has an average rating of “Hold” and an average price target of $10.39.

ZNGA stock opened at $8.18 on Friday. The firm has a 50 day moving average of $8.33 and a 200-day moving average of $8.25. The firm has a market capitalization of $9.26 billion, a P/E ratio of -81.80 and a beta of 0.03. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Zynga has a 12 month low of $5.57 and a 12 month high of $11.25.

Zynga (NASDAQ:ZNGAGet Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.06). Zynga had a positive return on equity of 0.72% and a negative net margin of 3.76%. The business had revenue of $694.90 million for the quarter, compared to analysts’ expectations of $749.20 million. Sell-side analysts predict that Zynga will post 0.19 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Zynga by 52.2% in the third quarter. The Manufacturers Life Insurance Company now owns 69,791 shares of the company’s stock valued at $525,000 after buying an additional 23,931 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Zynga by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 7,702,576 shares of the company’s stock worth $58,002,000 after acquiring an additional 384,464 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Zynga during the third quarter worth $506,000. Tudor Investment Corp Et Al lifted its stake in shares of Zynga by 57.3% in the 3rd quarter. Tudor Investment Corp Et Al now owns 1,101,502 shares of the company’s stock valued at $8,294,000 after purchasing an additional 401,184 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Zynga by 4.1% in the 3rd quarter. LPL Financial LLC now owns 208,979 shares of the company’s stock valued at $1,574,000 after purchasing an additional 8,173 shares during 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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