Wall Street analysts expect Zynga Inc (NASDAQ:ZNGA) to report sales of $416.85 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Zynga’s earnings, with the highest sales estimate coming in at $419.30 million and the lowest estimate coming in at $415.00 million. Zynga posted sales of $267.27 million in the same quarter last year, which would indicate a positive year over year growth rate of 56%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 5th.
According to Zacks, analysts expect that Zynga will report full-year sales of $1.55 billion for the current fiscal year. For the next year, analysts expect that the business will post sales of $1.74 billion, with estimates ranging from $1.71 billion to $1.75 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Zynga.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. Zynga had a negative return on equity of 11.86% and a net margin of 3.94%. The company had revenue of $345.29 million for the quarter, compared to analyst estimates of $330.56 million. During the same period in the prior year, the company posted $0.01 EPS. Zynga’s quarterly revenue was up 48.0% on a year-over-year basis.
A number of equities research analysts have recently weighed in on ZNGA shares. Barclays set a $6.00 price target on Zynga and gave the company a “hold” rating in a report on Monday, October 21st. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. BidaskClub lowered Zynga from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Robert W. Baird set a $8.00 price objective on Zynga and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price objective on shares of Zynga in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $7.17.
Shares of NASDAQ ZNGA traded up $0.07 during trading on Friday, reaching $6.22. The stock had a trading volume of 11,091,479 shares, compared to its average volume of 16,969,127. Zynga has a one year low of $3.48 and a one year high of $6.65. 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 stock has a market cap of $5.83 billion, a PE ratio of 311.00, a P/E/G ratio of 2.95 and a beta of 0.30. The firm’s 50 day moving average price is $6.22 and its two-hundred day moving average price is $6.10.
In other Zynga news, CAO Jeffrey Buckley sold 34,663 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $6.14, for a total value of $212,830.82. Following the transaction, the chief accounting officer now directly owns 54,587 shares of the company’s stock, valued at approximately $335,164.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Miles Ryan sold 28,943 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.79, for a total value of $167,579.97. Following the completion of the transaction, the insider now directly owns 15,784 shares in the company, valued at $91,389.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,387,832 shares of company stock worth $8,657,088. Insiders own 9.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Zynga by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 74,896,553 shares of the company’s stock valued at $459,116,000 after acquiring an additional 1,274,882 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Zynga by 1,172.6% during the 2nd quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock valued at $118,994,000 after acquiring an additional 17,886,400 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Zynga by 592.1% during the 2nd quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock valued at $118,283,000 after acquiring an additional 16,507,732 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of Zynga by 18.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 15,672,800 shares of the company’s stock valued at $96,074,000 after acquiring an additional 2,416,500 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Zynga by 2.4% during the 3rd quarter. State Street Corp now owns 11,825,061 shares of the company’s stock valued at $68,822,000 after acquiring an additional 272,372 shares during the last quarter. 77.40% of the stock is currently owned by institutional investors and hedge funds.
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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