According to analysts, “Zynga Inc (ZNGA) has been reiterated by The Street Ratings as a sell with a ratings score of D. The company’s weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself.”
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Zynga Inc (NASDAQ:ZNGA) shares opened at $3.46 on Tuesday and have a 52 week low of $2.09 and a 52 week high of $5.25. 50 day moving average of stock stands at $3.07, and market value of the company is $2.747 billion.
Zynga Inc’s Q1 Earnings
Zynga Inc (NASDAQ:ZNGA) reported its last earnings report on Wednesdday, April 24th, with EPS of $0.01 per share, outperforming the Thomson Reuters consensus estimate of ($0.04) by $0.05. Revenue for the quarter came in at $222.87 million. In the first quarter of the previous year, Zynga reported EPS of $0.06 earnings per share. Revenue for the quarter declined 17.9 percent on a year over year basis. According to analyst estimates, Zynga will record EPS of $-0.05 for fiscal 2013.
Zacks Rating Differs from The Street
Other than The Street, analysts at Zacks have also given their ratings on the stock. Zacks upgraded Zynga stocks from Neutral to an Outperform rating in a research note to investors on July 10. Zacks has given a price target of $3.70 per share. The reason behind the upgrade was the hiring of Don Mattrick as CEO by Zynga. Don Mattrick was the former head of Microsoft’s Xbox division prior to joining Zynga. Don Mattrick became CEO of Zynga on July 8 2013, after founder Mark Pincus stepped down from the post.
At Zynga Inc (NASDAQ:ZNGA), Don Mattrick will be responsible for every day affairs, whereas Mark Pincus who still is the chief product officer and president of the board, will look after strategic decisions through a new executive committee, which will be jointly headed by Pincus and Mattrick.
Ratings from Other Analysts
Evercore Partners have upgraded their price target on Zynga’s stock from $2.50 to $3.00, in a research note published on July 2nd. Evercore has given an “underweight” rating to the stock. Analysts at Jefferies Group have maintained Hold ratings on Zynga in a research note on July 2, with a price target of $3.00 per share.
A total of six investment analysts have given Sell ratings, thirteen have maintained Hold ratings and four have given a Buy rating to the company. Overall, consensus rating on the stock is Hold and the average price target is $3.79.