Zynga Inc (NASDAQ:ZNGA) Vice President Devang Shah sold off 4,800 shares of the company’s stock in a transaction on Friday May 16th. The shares were sold at an average price of $3.31, totaling to $15,888.00. After the transaction, Shah directly owns 113,910 shares in the company, valued at approximately $377,042, according to a filing with the SEC.
Analysts rating on Zynga
Various analyst firms have recently assigned Zynga a rating. Benchmark Co. analyst increased the price target on Zynga Inc (NASDAQ:ZNGA) from $3.46 to $3.52 in a research note on Thursday, April 24th. Barclays analysts have increased the price target from $4.50 to $5.00 in a research note published on Thursday April 24th and assigned an Equal Weight rating to the stock. Canaccord Genuity analysts have increased their price target on the game maker from $4.40 to $5.00 and assigned a Hold rating in a research note to investors on April 24th.
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Zynga has two Sell ratings; ten Hold ratings and one Buy rating. The game maker has an average rating of Hold and a consensus target price of $4.53.
Zynga Inc (NASDAQ:ZNGA) posted earnings of ($0.01) for the latest quarter results, in line with the consensus analyst estimates. In the same quarter last year, earnings for the company came in at $0.01. Revenue for the company came in at $168.00 million for the quarter, a drop from 36.3% compared to the corresponding quarter of the previous year. Analysts expect that Zynga to post $0.02 EPS for the current fiscal year.
Zynga counting on Hit it Rich
According to some analysts, Zynga Inc (NASDAQ:ZNGA) has created sustainable game models that can be gradually developed for continuous flow of revenue, when rivals are facing lack of investor confidence. The company’s latest Hit it Rich title is one such game, and is now available on Google Play.
Joe Kaminkow, Zynga Inc (NASDAQ:ZNGA)’s chief game designer, said “By bringing this true to life slots experience to the Web, iPhone, iPad and now Google Play, consumers now have the freedom to play their favorite branded slot games however and whenever they want.”
Designer added that Hit it Rich offers players a genuine entertainment experience by combining the look and feel of real slot machines with iconic entertainment brands and free to play social gaming elements.