Zynga Receives a Buy from Cowen & Co.

By Jason Carr

In a report issued on October 9, Doug Creutz from Cowen & Co. reiterated a Buy rating on Zynga (NASDAQ: ZNGA), with a price target of $4.50. The company’s shares closed yesterday at $3.70.

According to TipRanks.com, Creutz is a 5-star analyst with an average return of 29.7% and a 70.4% success rate. Creutz covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Scripps Networks, and 21st Century Fox.

Zynga has an analyst consensus of Moderate Buy, with a price target consensus of $4.29.

Based on Zynga’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $209 million and quarterly net profit of $5.09 million. In comparison, last year the company earned revenue of $182 million and had a GAAP net loss of $41.74 million.

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Zynga, Inc. provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook.