Zynga (NASDAQ:ZNGA) Stock Rating Upgraded by Credit Suisse Group

Credit Suisse Group upgraded shares of Zynga (NASDAQ:ZNGA) from an underperform rating to a neutral rating in a research report sent to investors on Tuesday morning, The Fly reports. The firm currently has $9.86 target price on the stock, up from their prior target price of $9.00.

Other equities research analysts have also issued research reports about the stock. KeyCorp lowered their price target on shares of Zynga from $11.00 to $10.00 and set an overweight rating on the stock in a report on Friday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Zynga from $12.00 to $10.00 and set an overweight rating on the stock in a report on Thursday, December 2nd. Barclays lowered their price target on shares of Zynga from $12.00 to $10.00 and set an overweight rating on the stock in a report on Tuesday, November 9th. Robert W. Baird lowered their target price on shares of Zynga from $14.00 to $10.00 and set an outperform rating on the stock in a report on Tuesday, December 14th. Finally, BTIG Research initiated coverage on shares of Zynga in a report on Wednesday, October 27th. They issued a buy rating and a $10.00 target price on the stock. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $11.28.

NASDAQ:ZNGA opened at $8.96 on Tuesday. The stock 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 debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The company has a fifty day moving average price of $6.75 and a 200 day moving average price of $8.03. Zynga has a one year low of $5.57 and a one year high of $12.32.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Monday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). The business had revenue of $704.70 million during the quarter, compared to the consensus estimate of $658.88 million. Zynga had a negative net margin of 3.30% and a positive return on equity of 4.35%. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) EPS. As a group, equities research analysts anticipate that Zynga will post 0.24 EPS for the current year.

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

A number of institutional investors have recently added to or reduced their stakes in ZNGA. Neuberger Berman Group LLC lifted its position in Zynga by 58.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 32,092,306 shares of the company’s stock valued at $241,655,000 after purchasing an additional 11,839,136 shares during the period. Point72 Asset Management L.P. raised its position in shares of Zynga by 381.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 6,467,366 shares of the company’s stock valued at $48,699,000 after acquiring an additional 5,125,368 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Zynga in the 3rd quarter valued at approximately $27,752,000. Balyasny Asset Management LLC acquired a new stake in shares of Zynga in the 3rd quarter valued at approximately $20,638,000. Finally, Hawk Ridge Capital Management LP raised its position in shares of Zynga by 174.8% in the 2nd quarter. Hawk Ridge Capital Management LP now owns 4,032,554 shares of the company’s stock valued at $42,866,000 after acquiring an additional 2,564,854 shares during the period. Institutional investors own 78.99% of the company’s stock.

About Zynga

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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