Wells Fargo & Company Trims Zynga (NASDAQ:ZNGA) Target Price to $9.86

Zynga (NASDAQ:ZNGA) had its price objective decreased by Wells Fargo & Company from $13.00 to $9.86 in a report issued on Tuesday morning, Price Targets.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on ZNGA. JPMorgan Chase & Co. reduced their price objective on Zynga from $12.00 to $10.00 and set an overweight rating on the stock in a research note on Thursday, December 2nd. KeyCorp reduced their price objective on Zynga from $11.00 to $10.00 and set an overweight rating on the stock in a research note on Friday, October 8th. Robert W. Baird reduced their price objective on Zynga from $14.00 to $10.00 and set an outperform rating on the stock in a research note on Tuesday, December 14th. Credit Suisse Group upgraded Zynga from an underperform rating to a neutral rating and increased their price objective for the company from $9.00 to $9.86 in a research note on Tuesday. Finally, Barclays cut their price target on Zynga from $12.00 to $10.00 and set an overweight rating on the stock in a research note on Tuesday, November 9th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zynga has an average rating of Buy and an average target price of $11.28.

ZNGA opened at $8.96 on Tuesday. Zynga has a 52 week low of $5.57 and a 52 week high of $12.32. The business has a fifty day simple moving average of $6.75 and a 200-day simple moving average of $8.03. The firm has a market cap of $10.04 billion, a P/E ratio of -99.54 and a beta of 0.14. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44.

Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Monday, November 8th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $704.70 million for the quarter, compared to analysts’ expectations of $658.88 million. Zynga had a positive return on equity of 4.35% and a negative net margin of 3.30%. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Sell-side analysts expect that Zynga will post 0.24 earnings per share for the current year.

In related news, Director Ellen F. Siminoff sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $6.18, for a total transaction of $30,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James Gerard Griffin sold 52,636 shares of the firm’s stock in a transaction dated Thursday, October 21st. The stock was sold at an average price of $8.00, for a total value of $421,088.00. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC grew its holdings in shares of Zynga by 9.9% during the third quarter. Kestra Advisory Services LLC now owns 16,446 shares of the company’s stock worth $124,000 after buying an additional 1,485 shares during the last quarter. CAPROCK Group Inc. grew its holdings in shares of Zynga by 13.7% during the second quarter. CAPROCK Group Inc. now owns 12,871 shares of the company’s stock worth $137,000 after buying an additional 1,547 shares during the last quarter. Hotaling Investment Management LLC grew its holdings in shares of Zynga by 9.2% during the third quarter. Hotaling Investment Management LLC now owns 19,653 shares of the company’s stock worth $148,000 after buying an additional 1,658 shares during the last quarter. AGF Investments LLC boosted its holdings in Zynga by 3.4% in the 2nd quarter. AGF Investments LLC now owns 57,514 shares of the company’s stock valued at $611,000 after purchasing an additional 1,870 shares in the last quarter. Finally, Truvestments Capital LLC boosted its holdings in Zynga by 5.3% in the 3rd quarter. Truvestments Capital LLC now owns 40,978 shares of the company’s stock valued at $309,000 after purchasing an additional 2,070 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Zynga Company Profile

Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems with Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.

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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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