Wall Street analysts expect Zynga Inc (NASDAQ:ZNGA) to announce sales of $417.57 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Zynga’s earnings, with the lowest sales estimate coming in at $415.00 million and the highest estimate coming in at $420.60 million. Zynga reported sales of $267.27 million in the same quarter last year, which indicates a positive year-over-year growth rate of 56.2%. The firm is scheduled to announce its next earnings results on Wednesday, February 5th.
On average, analysts expect that Zynga will report full year sales of $1.55 billion for the current fiscal year. For the next financial year, analysts anticipate that the company will post sales of $1.74 billion, with estimates ranging from $1.71 billion to $1.76 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Zynga.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $345.29 million for the quarter, compared to the consensus estimate of $330.56 million. Zynga had a net margin of 3.94% and a negative return on equity of 11.86%. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Zynga from a “strong sell” rating to a “sell” rating in a research note on Friday, January 10th. Barclays set a $6.00 price target on shares of Zynga and gave the stock a “hold” rating in a research note on Monday, October 21st. SunTrust Banks initiated coverage on shares of Zynga in a research report on Monday, January 6th. They set a “buy” rating and a $7.50 price objective for the company. Zacks Investment Research cut shares of Zynga from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, ValuEngine cut shares of Zynga from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.36.
Shares of NASDAQ:ZNGA traded down $0.14 during midday trading on Tuesday, hitting $6.67. The company’s stock had a trading volume of 23,107,939 shares, compared to its average volume of 13,009,400. The business’s 50 day simple moving average is $6.32 and its 200 day simple moving average is $6.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market cap of $6.44 billion, a P/E ratio of 166.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.29. Zynga has a 12-month low of $4.21 and a 12-month high of $6.92.
In other Zynga news, CFO James Gerard Griffin sold 1,052,899 shares of Zynga stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.29, for a total transaction of $6,622,734.71. Following the completion of the sale, the chief financial officer now directly owns 1,589,215 shares in the company, valued at $9,996,162.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Phuong Y. Phillips sold 12,090 shares of Zynga stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.29, for a total transaction of $76,046.10. Following the sale, the insider now owns 207,649 shares of the company’s stock, valued at $1,306,112.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,256,980 shares of company stock valued at $14,456,146. 9.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Synovus Financial Corp acquired a new position in shares of Zynga in the third quarter valued at approximately $27,000. Flagship Harbor Advisors LLC grew its holdings in shares of Zynga by 65.0% in the third quarter. Flagship Harbor Advisors LLC now owns 10,150 shares of the company’s stock valued at $59,000 after purchasing an additional 4,000 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Zynga by 232.2% in the third quarter. Tower Research Capital LLC TRC now owns 12,131 shares of the company’s stock valued at $71,000 after purchasing an additional 8,479 shares in the last quarter. Kovack Advisors Inc. acquired a new position in shares of Zynga in the third quarter valued at approximately $71,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Zynga in the third quarter valued at approximately $85,000. Institutional investors and hedge funds own 77.40% of the company’s stock.
Zynga Company Profile
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.
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