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

Zynga (NASDAQ:ZNGA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, July 27th.

Other analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and set a $5.00 price target (up from $4.36) on shares of Zynga in a research report on Thursday, May 31st. Wedbush set a $6.00 price target on shares of Zynga and gave the company a “buy” rating in a research report on Thursday, July 26th. ValuEngine raised shares of Zynga from a “hold” rating to a “buy” rating in a research report on Monday, May 7th. Morgan Stanley increased their price target on shares of Zynga from $4.50 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $5.00 price target on shares of Zynga in a research report on Tuesday, May 29th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Zynga currently has an average rating of “Hold” and a consensus target price of $4.67.

Shares of ZNGA traded down $0.04 during trading hours on Friday, reaching $3.82. 12,468,878 shares of the company traded hands, compared to its average volume of 10,006,677. The firm has a market capitalization of $3.32 billion, a P/E ratio of 127.33, a P/E/G ratio of 2.33 and a beta of 0.39. Zynga has a 12-month low of $3.20 and a 12-month high of $4.57.

Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, August 1st. The company reported $0.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.03). Zynga had a return on equity of 2.37% and a net margin of 4.04%. The business had revenue of $217.05 million during the quarter, compared to analysts’ expectations of $212.62 million. During the same period last year, the company earned $0.01 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. equities analysts forecast that Zynga will post 0.07 EPS for the current year.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $4.11, for a total value of $49,320.00. Following the transaction, the director now owns 234,743 shares in the company, valued at approximately $964,793.73. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Matthew S. Bromberg sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $4.26, for a total transaction of $85,200.00. Following the completion of the transaction, the chief operating officer now owns 389,945 shares in the company, valued at approximately $1,661,165.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,000 shares of company stock worth $234,120. 11.87% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc purchased a new stake in Zynga in the 2nd quarter worth approximately $154,000. BNP Paribas Arbitrage SA boosted its position in Zynga by 99.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 46,102 shares of the company’s stock worth $188,000 after purchasing an additional 23,017 shares in the last quarter. Jane Street Group LLC purchased a new stake in Zynga in the 4th quarter worth approximately $198,000. Acadian Asset Management LLC purchased a new stake in Zynga in the 2nd quarter worth approximately $254,000. Finally, Gabelli Funds LLC purchased a new stake in Zynga in the 2nd quarter worth approximately $273,000. Institutional investors and hedge funds own 70.92% 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 iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.

Further Reading: Earnings Per Share (EPS) Explained

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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