Zynga's (ZNGA) "Buy" Rating Reaffirmed at Jefferies Group LLC

20 Mai, 2017, 05:23 | Author: Marc Bacque

Finally, Benchmark Co. reissued a "buy" rating and set a $3.65 price target on shares of Zynga in a report on Friday, May 5th. Outstanding shares refer to a company's stock now held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders. Alpha One also assigned news articles about the company an impact score of 71 out of 100, indicating that recent media coverage is likely to have an effect on the stock's share price in the near term. Zacks Investment Research raised Zynga from a "hold" rating to a "buy" rating and set a $3.25 price target on the stock in a report on Thursday, April 13th. The stock has an average rating of "Buy" and an average target price of $3.62. Jefferies Group LLC reissued a "buy" rating and issued a $5.00 price objective on shares of Zynga in a research report on Monday. Canaccord Genuity reaffirmed a hold rating and set a $3.00 price target on shares of Zynga in a research note on Friday, February 3rd. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

Zynga (NASDAQ:ZNGA) traded up 2.35% during trading on Friday, hitting $3.48. Based on an average daily trading volume, of 8,261,790 shares, the days-to-cover ratio is now 2.3 days.

The company has -3.90% returns on equity value while its ROI ratio was -2.60%. The company's market capitalization is $3.00 billion. Shares are trading 0.59% above their 50-day moving average, and 8.68% below their 200-day moving average. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $194.30 million during the quarter, compared to the consensus estimate of $188.14 million. The company's quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Zynga will post $0.09 earnings per share for the current year. If you are viewing this report on another publication, it was stolen and reposted in violation of worldwide trademark & copyright law.

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In other news, CEO Frank D. Gibeau sold 167,440 shares of the firm's stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $2.91, for a total transaction of $34,920.00. Following the completion of the sale, the chief executive officer now owns 1,115,834 shares in the company, valued at $3,046,226.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $2.73, for a total transaction of $52,443.30. Following the transaction, the director now directly owns 177,057 shares of the company's stock, valued at $515,235.87. The disclosure for this sale can be found here. Insiders own 16.60% of the company's stock.

A number of institutional investors have recently made changes to their positions in ZNGA. BlackRock Inc. now owns 35,936,741 shares of the company's stock worth $102,420,000 after buying an additional 35,240,491 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Zynga during the third quarter valued at about $105,000. Alyeska Investment Group L.P. raised its position in shares of Zynga by 587.4% in the fourth quarter. GSA Capital Partners LLP now owns 57,935 shares of the company's stock valued at $149,000 after buying an additional 32,994 shares during the period. BlackRock Inc. raised its position in shares of Zynga by 5,061.5% in the first quarter. HighTower Advisors LLC bought a new position in Zynga during the first quarter valued at about $116,000.

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