Thursday, September 22, 2016 9:35:11 AM
ANALYSTS SET ZYNGA INC. (NASDAQ:ZNGA) PT AT $3.21
POSTED BY TERESA GRAHAM ON SEP 22ND, 2016
ZYNGA INC. (NASDAQ:ZNGA) HAS BEEN ASSIGNED AN AVERAGE RECOMMENDATION OF “HOLD” FROM THE SIXTEEN RATINGS FIRMS that are covering the firm. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating on the company.
THE AVERAGE 1-YEAR PRICE OBJECTIVE AMONG ANALYSTS THAT HAVE COVERED THE STOCK IN THE LAST YEAR IS $3.21.
Several analysts recently weighed in on ZNGA shares. Wedbush reaffirmed a “buy” rating and issued a $4.25 price objective on shares of Zynga in a research note on Sunday, September 11th. JEFFERIES GROUP REAFFIRMED A “BUY” RATING ON SHARES of Zynga in a research note on Monday, July 11th. FBR & CO REAFFIRMED AN “OUTPERFORM” RATING AND ISSUED A $4.25 price objective on shares of Zynga in a research note on Tuesday, September 13th. Cowen and Company raised Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 price objective on the stock in a research note on Wednesday, August 3rd. Finally, TheStreet raised Zynga from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th.
In other Zynga news, VP Devang Shah sold 40,443 shares of Zynga stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $2.83, for a total value of $114,453.69. Following the completion of the sale, THE VICE PRESIDENT NOW DIRECTLY OWNS 77,799 SHARES IN THE COMPANY, VALUED AT $220,171.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 16.60% of the stock is owned by company insiders.
A NUMBER OF LARGE INVESTORS HAVE RECENTLY MADE CHANGES TO THEIR POSITIONS IN ZNGA.
MOORS & CABOT INC. boosted its stake in shares of Zynga by 0.4% in the second quarter. Moors & Cabot Inc. now owns 124,050 shares of the company’s stock worth $307,000 after buying an additional 500 shares during the period.
UTAH RETIREMENT SYSTEMS BOOSTED ITS STAKE in shares of Zynga by 0.6% in the second quarter. Utah Retirement Systems now owns 132,388 shares of the company’s stock worth $329,000 after buying an additional 800 shares during the period.
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO BOOSTED ITS STAKE in shares of Zynga by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 143,765 shares of the company’s stock worth $358,000 after buying an additional 973 shares during the period.
PENSERRA CAPITAL MANAGEMENT LLC BOOSTED ITS STAKE in shares of Zynga by 3.5% in the second quarter. Penserra Capital Management LLC now owns 49,442 shares of the company’s stock worth $123,000 after buying an additional 1,656 shares during the period.
Finally, PRINCIPAL FINANCIAL GROUP INC. BOOSTED ITS STAKE in shares of Zynga by 2.5% in the second quarter. Principal Financial Group Inc. now owns 113,942 shares of the company’s stock worth $284,000 after buying an additional 2,793 shares during the period. 59.36% of the stock is owned by hedge funds and other institutional investors.
Zynga (NASDAQ:ZNGA) opened at 2.87 on Monday. Zynga has a 52-week low of $1.78 and a 52-week high of $3.02. The stock’s 50 day moving average price is $2.76 and its 200 day moving average price is $2.58. The firm’s market capitalization is $2.53 billion.
Source:
www.thecerbatgem.com/2016/09/22/analysts-set-zynga-inc-nasdaqznga-pt-at-3-21.html
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