Zynga (NASDAQ:ZNGA) Given a $7.00 Price Target at Morgan Stanley

Morgan Stanley set a $7.00 price target on Zynga (NASDAQ:ZNGA) in a research note released on Monday, TipRanks reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Piper Jaffray Companies raised shares of Brookline Bancorp from a neutral rating to an overweight rating and lifted their price target for the company from $15.50 to $17.00 in a research report on Thursday, May 2nd. Bank of America set a $54.00 target price on shares of Fortis and gave the stock a buy rating in a report on Thursday, May 2nd. Stephens initiated coverage on shares of Genuine Parts in a report on Thursday, May 30th. They issued an overweight rating and a $114.00 target price for the company. Robert W. Baird raised shares of Zynga from a neutral rating to an outperform rating and lifted their target price for the stock from $5.00 to $8.00 in a report on Thursday, May 2nd. Finally, KeyCorp lifted their target price on shares of Zynga from $5.00 to $6.00 and gave the stock an overweight rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $6.72.

NASDAQ ZNGA traded down $0.06 during trading hours on Monday, reaching $6.23. 20,817,682 shares of the company’s stock traded hands, compared to its average volume of 18,070,960. Zynga has a 52-week low of $3.32 and a 52-week high of $6.55. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 311.50, a PEG ratio of 3.20 and a beta of 0.28. The business’s 50-day simple moving average is $6.20. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.01.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.17). Zynga had a negative net margin of 12.34% and a negative return on equity of 7.09%. The business had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $255.45 million. During the same period last year, the business earned $0.01 earnings per share. The company’s revenue was up 27.4% on a year-over-year basis. As a group, research analysts expect that Zynga will post 0.13 earnings per share for the current fiscal year.

In other news, COO Matthew S. Bromberg sold 41,500 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $5.27, for a total transaction of $218,705.00. Following the completion of the transaction, the chief operating officer now directly owns 623,703 shares of the company’s stock, valued at $3,286,914.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark J. Pincus sold 586,800 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $5.57, for a total transaction of $3,268,476.00. Following the transaction, the director now directly owns 37,620,926 shares of the company’s stock, valued at $209,548,557.82. The disclosure for this sale can be found here. Insiders sold 2,550,203 shares of company stock valued at $14,179,549 over the last ninety days. Corporate insiders own 9.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Zynga by 1.1% during the first quarter. BlackRock Inc. now owns 67,298,044 shares of the company’s stock valued at $358,697,000 after purchasing an additional 708,261 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Zynga by 13.0% during the first quarter. First Trust Advisors LP now owns 25,671,314 shares of the company’s stock valued at $136,828,000 after purchasing an additional 2,958,148 shares during the last quarter. FMR LLC raised its holdings in shares of Zynga by 6,486,449.1% during the fourth quarter. FMR LLC now owns 15,048,794 shares of the company’s stock valued at $59,142,000 after purchasing an additional 15,048,562 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of Zynga by 228.2% during the first quarter. TimesSquare Capital Management LLC now owns 13,256,300 shares of the company’s stock valued at $70,656,000 after purchasing an additional 9,217,100 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Zynga by 1.7% during the first quarter. OppenheimerFunds Inc. now owns 10,828,983 shares of the company’s stock valued at $57,718,000 after purchasing an additional 181,342 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

About Zynga

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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