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Brokers Give Zynga Inc (NASDAQ:ZNGA) Shares An Average “Hold” Recommendation

Zynga Inc (NASDAQ:ZNGA) has received an average “hold” recommendation by 18 brokerage firms that trade its shares.

According to a report from the AnalystRatingsNetwork.com, Zynga has received ten hold recommendations, one strong recommendation for buy, five recommendations for buy and two recommendations for sell. The report also points out that the average 12-month price objective for the company is $3.32 based on the projections provided by the 18 brokers.

Zynga’s shares went up by 2.02% over the past one week and 3.28% in the past month. The shares are not yet where they are expected to do especially considering the 14.29% loss the company’s shares experienced last week as indicated by the S&P 500. The statistics indicate that Zynga has been below the index by 9.35% over the past one month.

On Thursday’s opening, the shares were valued at $2.52 while the 50-day moving average was $2.53. The 200-day moving average was $2.69. The company’s yearly low was $2.20 while the shares achieved a high of $3.13 with a market capitalization of $2.33 billion.

Zynga Inc (NASDAQ:ZNGA) reported $0.01 earnings per share for the last quarter during its last quarterly earnings review held on August 6. The company had reported a $0.07 earnings per share for the corresponding period in the previous year. Zynga’s quarterly revenue for the period was $199.90 million, higher than the $157.38 million value expected by analysts. The actual share price is expected to deviate from the current share price estimate of $3.34 by $1.08. The analysts have also set the highest price target at $6 and the lowest price targets at $2.

Zynga is a game developer and a social services provider. The company markets and operates different online social games via mobile platforms through the internet and social media. Users can access most of their games on social media giant sites such as Facebook. A good example of its product or service is FarmVille. The company also handles some virtual currencies that gamers use to purchase in-app products.

Published by Donna Fago

I believe in writing content Informing investors with the knowledge they need to invest better today- I have been following the markets for many years and was asked to join the team at WallStreetPR.com recently due to my passion for the markets.



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