Equities research analysts expect Zynga Inc (NASDAQ:ZNGA) to post $214.40 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Zynga’s earnings, with the lowest sales estimate coming in at $210.21 million and the highest estimate coming in at $217.80 million. Zynga reported sales of $201.53 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.4%. The business is expected to announce its next earnings report on Thursday, February 8th.
On average, analysts expect that Zynga will report full-year sales of $214.40 million for the current fiscal year, with estimates ranging from $840.24 million to $850.00 million. For the next year, analysts anticipate that the business will post sales of $921.02 million per share, with estimates ranging from $881.13 million to $950.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Zynga.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $211.98 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Zynga’s revenue for the quarter was up 23.1% on a year-over-year basis.
Several analysts recently weighed in on ZNGA shares. Wedbush set a $5.00 price objective on shares of Zynga and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Cowen reissued a “buy” rating and issued a $4.50 price objective on shares of Zynga in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective on the stock in a research note on Saturday, November 11th. Consumer Edge started coverage on shares of Zynga in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 price objective on the stock. Finally, BidaskClub cut shares of Zynga from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $4.14.
In other news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $3.97, for a total transaction of $47,640.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Matthew S. Bromberg sold 50,000 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $3.95, for a total transaction of $197,500.00. Following the transaction, the chief operating officer now owns 294,206 shares in the company, valued at approximately $1,162,113.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,000 shares of company stock worth $930,600. 12.43% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crow Point Partners LLC acquired a new position in shares of Zynga during the fourth quarter valued at about $114,000. AXA raised its holdings in shares of Zynga by 20.7% during the third quarter. AXA now owns 2,122,900 shares of the company’s stock valued at $8,025,000 after purchasing an additional 364,300 shares during the period. California Public Employees Retirement System raised its holdings in shares of Zynga by 2.0% during the third quarter. California Public Employees Retirement System now owns 1,932,268 shares of the company’s stock valued at $7,304,000 after purchasing an additional 37,768 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Zynga by 40.0% during the third quarter. Cubist Systematic Strategies LLC now owns 287,243 shares of the company’s stock valued at $1,086,000 after purchasing an additional 82,031 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Zynga by 83.9% during the third quarter. Point72 Asset Management L.P. now owns 2,881,437 shares of the company’s stock valued at $10,892,000 after purchasing an additional 1,314,237 shares during the period. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Shares of Zynga (ZNGA) remained flat at $$3.97 during trading on Wednesday. The company’s stock had a trading volume of 7,703,800 shares, compared to its average volume of 8,730,000. Zynga has a 1-year low of $2.40 and a 1-year high of $4.34. The company has a market cap of $3,460.00, a P/E ratio of -132.33, a PEG ratio of 2.92 and a beta of 0.76.
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Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.
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