Zynga Inc. [ZNGA] stock Initiated by BTIG Research analyst, price target now $10

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Zynga Inc. [NASDAQ: ZNGA] gained 1.71% or 0.15 points to close at $8.90 with a heavy trading volume of 22761438 shares. The company report on April 20, 2022 that Zynga to Report First Quarter 2022 Financial Results on May 9, 2022.

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Zynga Inc. (Nasdaq: ZNGA) today announced it will report its first quarter 2022 financial results on Monday, May 9, 2022, at approximately 1:05 p.m. Pacific Time (4:05 p.m. Eastern Time) via press release. Due to the pending transaction with Take-Two Interactive Software, Inc. announced on January 10, 2022, Zynga will not host a conference call or provide forward guidance in connection with the release of its quarterly results.

It opened the trading session at $8.78, the shares rose to $8.91 and dropped to $8.71, the range by which the price of stock traded the whole day. The daily chart for ZNGA points out that the company has recorded 14.10% gains over the past six months. However, it is still -59.78% lower than its most recent low trading price.

If we look at the average trading volume of 25.67M shares, ZNGA reached to a volume of 22761438 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Zynga Inc. [ZNGA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZNGA shares is $10.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZNGA stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for Zynga Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 27, 2021. While these analysts kept the previous recommendation, UBS dropped their target price from $14.50 to $13.50. The new note on the price target was released on August 06, 2021, representing the official price target for Zynga Inc. stock. Previously, the target price had yet another drop from $12 to $10, while The Benchmark Company kept a Buy rating on ZNGA stock. On August 06, 2021, analysts decreased their price target for ZNGA shares from 14 to 12.75.

The Average True Range (ATR) for Zynga Inc. is set at 0.16, with the Price to Sales ratio for ZNGA stock in the period of the last 12 months amounting to 3.63. The Price to Book ratio for the last quarter was 3.21, with the Price to Cash per share for the same quarter was set at 1.01. Price to Free Cash Flow for ZNGA in the course of the last twelve months was 42.14 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for ZNGA stock

Zynga Inc. [ZNGA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.45. With this latest performance, ZNGA shares dropped by -2.09% in over the last four-week period, additionally plugging by 14.10% over the last 6 months – not to mention a drop of -16.59% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZNGA stock in for the last two-week period is set at 45.10, with the RSI for the last a single of trading hit 43.82, and the three-weeks RSI is set at 47.95 for Zynga Inc. [ZNGA]. The present Moving Average for the last 50 days of trading for this stock 9.04, while it was recorded at 8.91 for the last single week of trading, and 8.24 for the last 200 days.

Zynga Inc. [ZNGA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Zynga Inc. [ZNGA] shares currently have an operating margin of +7.88 and a Gross Margin at +63.76. Zynga Inc.’s Net Margin is presently recorded at -3.72.

Return on Equity for this stock declined to -3.44, with Return on Assets sitting at -1.66.

Zynga Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Zynga Inc. [ZNGA]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ZNGA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Zynga Inc. go to 17.82%.

An analysis of insider ownership at Zynga Inc. [ZNGA]

There are presently around $7,832 million, or 78.80% of ZNGA stock, in the hands of institutional investors. The top three institutional holders of ZNGA stocks are: VANGUARD GROUP INC with ownership of 97,405,497, which is approximately 3.407% of the company’s market cap and around 0.40% of the total institutional ownership; ARTISAN PARTNERS LIMITED PARTNERSHIP, holding 75,843,131 shares of the stock with an approximate value of $675.0 million in ZNGA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $538.82 million in ZNGA stock with ownership of nearly -2.269% of the company’s market capitalization.

Positions in Zynga Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 245 institutional holders increased their position in Zynga Inc. [NASDAQ:ZNGA] by around 130,636,606 shares. Additionally, 244 investors decreased positions by around 151,203,540 shares, while 66 investors held positions by with 598,207,197 shares. The mentioned changes placed institutional holdings at 880,047,343 shares, according to the latest SEC report filing. ZNGA stock had 93 new institutional investments in for a total of 25,921,584 shares, while 93 institutional investors sold positions of 29,328,496 shares during the same period.