Cowen & Company Upgrades Zynga Inc to Outperform

Brokerage firm Cowen & Company Upgrades its rating on Zynga Inc(NASDAQ:ZNGA). The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Cowen & Company was issued on Aug 3, 2016.

Zynga Inc (ZNGA) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.38% at a volume of 1,22,79,252. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.69. The peak price level was also seen at $2.69 while the days lowest was $2.65. Finally the shares closed at $2.65. The 52-week high of the shares is $3.02 while the 52-week low is $1.78. According to the latest information available, the market cap of the company is $2,338 M.

Zynga Inc(ZNGA) last announced its earnings results on Nov 3, 2015 for Fiscal Year 2015 and Q3.Company reported revenue of $195.74M. Analysts had an estimated revenue of $169.94M. Earnings per share were $0. Analysts had estimated an EPS of $-0.01.

Several Insider Transactions has been reported to the SEC. On Jul 19, 2016, Devang Shah (General Counsel, Sec. and VP) sold 40,443 shares at $2.83 per share price.Also, On Jun 17, 2016, Frank D Gibeau (Chief Executive Officer) sold 159,614 shares at $2.60 per share price.On Jun 17, 2016, Michelle Quejado (Interim CFO and CAO) sold 6,016 shares at $2.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Zynga Inc. (Zynga) is a provider of social game services. The Company develops markets and operates social games as live services played on mobile platforms such as iOS and Android and social networking sites such as Facebook. The Company’s games are also accessible on The Company has developed online social games such as FarmVille Words With Friends Zynga Poker Hit It Rich! Slots and CSR Racing. The Company is also engaged in the sale of virtual currency that players use to buy in-game virtual goods and mobile games. It also offers advertising services such as Branded Virtual Goods and Sponsorships Engagement Ads and Offers Mobile Ads Display Ads and Licensing of Company’s brands.

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