Zynga Inc. (ZNGA) Scheduled to Post Quarterly Earnings on Wednesday
Zynga Inc. (NASDAQ:ZNGA) will announce its earnings results after the market closes on Wednesday, August 2nd. Analysts expect the company to announce earnings of $0.02 per share for the quarter.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $194.30 million during the quarter, compared to analysts’ expectations of $188.14 million. Zynga had a negative net margin of 12.16% and a negative return on equity of 5.25%. The business’s revenue was up 4.1% compared to the same quarter last year. On average, analysts expect Zynga to post $0.09 EPS for the current fiscal year and $0.11 EPS for the next fiscal year.
Shares of Zynga Inc. (NASDAQ ZNGA) opened at 3.74 on Wednesday. The firm’s market cap is $3.22 billion. The firm has a 50-day moving average of $3.64 and a 200 day moving average of $3.07. Zynga Inc. has a 52-week low of $2.40 and a 52-week high of $3.86.
A number of research analysts have recently commented on the stock. Morgan Stanley reissued an “overweight” rating and issued a $3.70 target price on shares of Zynga in a report on Saturday. Zacks Investment Research cut shares of Zynga from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Cowen and Company increased their target price on shares of Zynga from $4.25 to $4.50 and gave the stock an “outperform” rating in a report on Friday, June 23rd. Mizuho reissued a “buy” rating and issued a $4.20 target price (up previously from $3.50) on shares of Zynga in a report on Saturday, June 3rd. Finally, Piper Jaffray Companies raised shares of Zynga from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $3.00 to $4.00 in a report on Tuesday, May 30th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Zynga presently has a consensus rating of “Buy” and a consensus price target of $3.85.
In other news, Director William B. Gordon sold 1,232,373 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.50, for a total value of $4,313,305.50. Following the completion of the transaction, the director now owns 832,603 shares of the company’s stock, valued at $2,914,110.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $2.91, for a total value of $34,920.00. Following the completion of the transaction, the director now directly owns 177,057 shares of the company’s stock, valued at approximately $515,235.87. The disclosure for this sale can be found here. Insiders sold 1,818,010 shares of company stock valued at $6,369,348 in the last ninety days. 12.43% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/07/26/zynga-inc-znga-scheduled-to-post-quarterly-earnings-on-wednesday.html.
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.
Receive News & Ratings for Zynga Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga Inc. and related companies with MarketBeat.com's FREE daily email newsletter.