Zynga Inc. (ZNGA) Earns “Outperform” Rating from Wedbush

Zynga Inc. (ZNGA) Earns “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Zynga Inc. (NASDAQ:ZNGA) in a report published on Monday. The brokerage currently has a $4.25 price target on the stock.

Several other research analysts have also issued reports on ZNGA. Robert W. Baird reiterated a neutral rating and set a $3.00 price objective on shares of Zynga in a research note on Thursday, November 3rd. Canaccord Genuity reiterated a hold rating and set a $3.00 price objective on shares of Zynga in a research note on Friday, February 3rd. Piper Jaffray Companies reiterated a hold rating and set a $2.50 price objective on shares of Zynga in a research note on Friday, January 20th. Zacks Investment Research upgraded Zynga from a hold rating to a buy rating and set a $3.25 price objective for the company in a research note on Wednesday, November 9th. Finally, Mizuho began coverage on Zynga in a research note on Thursday, December 22nd. They set a buy rating and a $3.50 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Zynga presently has an average rating of Hold and a consensus price target of $3.34.

Shares of Zynga (NASDAQ:ZNGA) opened at 2.47 on Monday. The firm’s market capitalization is $2.20 billion. The firm has a 50-day moving average of $2.60 and a 200-day moving average of $2.77. Zynga has a one year low of $1.78 and a one year high of $3.08.

In other news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $2.59, for a total transaction of $31,080.00. Following the transaction, the director now owns 174,889 shares in the company, valued at approximately $452,962.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Devang Shah sold 41,528 shares of Zynga stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $2.60, for a total value of $107,972.80. Following the transaction, the senior vice president now owns 84,913 shares in the company, valued at approximately $220,773.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 285,185 shares of company stock worth $789,646. Company insiders own 16.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Zynga during the third quarter valued at $105,000. Sterling Capital Management LLC acquired a new position in Zynga during the second quarter valued at $124,000. Legal & General Group Plc boosted its position in Zynga by 75.2% in the second quarter. Legal & General Group Plc now owns 71,503 shares of the company’s stock valued at $178,000 after buying an additional 30,687 shares during the period. Teacher Retirement System of Texas boosted its position in Zynga by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 102,932 shares of the company’s stock valued at $256,000 after buying an additional 4,512 shares during the period. Finally, Penserra Capital Management LLC boosted its position in Zynga by 111.7% in the third quarter. Penserra Capital Management LLC now owns 104,684 shares of the company’s stock valued at $304,000 after buying an additional 55,242 shares during the period. Institutional investors and hedge funds own 60.35% of the company’s stock.

About Zynga

Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) and Android and social networking sites, such as Facebook. The Company operates through developing and monetizing social games segment.

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