Zynga (NASDAQ:ZNGA) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Zynga (NASDAQ:ZNGA) from a strong sell rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other research analysts have also recently issued reports on the stock. Wedbush reaffirmed an outperform rating and issued a $9.00 price target on shares of Zynga in a report on Tuesday, August 27th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $7.00 price target on shares of Zynga in a report on Wednesday, September 18th. ValuEngine cut shares of Zynga from a buy rating to a hold rating in a report on Friday, September 27th. Robert W. Baird set a $8.00 price target on shares of Zynga and gave the stock a buy rating in a report on Thursday, August 29th. Finally, Bank of America raised their target price on shares of Zynga from $6.60 to $6.70 and gave the stock a neutral rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $6.96.

NASDAQ ZNGA opened at $6.12 on Wednesday. The company has a fifty day simple moving average of $5.85 and a two-hundred day simple moving average of $5.92. The stock has a market cap of $5.77 billion, a P/E ratio of 306.00, a P/E/G ratio of 3.06 and a beta of 0.28. Zynga has a 12-month low of $3.32 and a 12-month high of $6.65. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $306.50 million during the quarter, compared to analysts’ expectations of $293.18 million. Zynga had a negative return on equity of 10.42% and a negative net margin of 16.50%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Zynga will post 0.13 earnings per share for the current year.

In related news, COO Matthew S. Bromberg sold 41,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $5.68, for a total transaction of $235,720.00. Following the sale, the chief operating officer now owns 631,458 shares in the company, valued at $3,586,681.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ellen F. Siminoff sold 5,000 shares of Zynga stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,550.00. Following the completion of the transaction, the director now owns 229,092 shares of the company’s stock, valued at approximately $1,399,752.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 299,923 shares of company stock valued at $1,798,033. 9.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ZNGA. Machina Capital S.A.S. purchased a new position in Zynga during the 2nd quarter worth $27,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Zynga during the 2nd quarter worth $30,000. Atria Investments LLC acquired a new position in shares of Zynga during the 2nd quarter worth $34,000. Cornerstone Advisors Inc. acquired a new position in shares of Zynga during the 2nd quarter worth $35,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Zynga in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 71.37% of the company’s stock.

Zynga Company Profile

Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.

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Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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