Brokerages Expect Zynga Inc. (ZNGA) Will Announce Quarterly Sales of $211.12 Million
Equities research analysts predict that Zynga Inc. (NASDAQ:ZNGA) will announce sales of $211.12 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Zynga’s earnings. The lowest sales estimate is $207.60 million and the highest is $215.34 million. Zynga reported sales of $196.72 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The firm is expected to report its next earnings results on Wednesday, November 1st.
On average, analysts expect that Zynga will report full year sales of $211.12 million for the current fiscal year, with estimates ranging from $834.87 million to $854.45 million. For the next year, analysts anticipate that the company will report sales of $920.36 million per share, with estimates ranging from $879.70 million to $974.17 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Zynga.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The business had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. Zynga’s revenue for the quarter was up 15.1% compared to the same quarter last year.
ZNGA has been the topic of several analyst reports. Canaccord Genuity boosted their price objective on shares of Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Wedbush boosted their price objective on shares of Zynga from $4.25 to $4.65 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Robert W. Baird reissued a “hold” rating and set a $4.00 price objective on shares of Zynga in a research report on Friday, September 15th. Finally, Benchmark Co. reissued a “buy” rating and set a $4.35 price objective (up from $3.65) on shares of Zynga in a research report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $4.06.
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Shares of Zynga (NASDAQ:ZNGA) opened at 3.87 on Friday. The company’s market cap is $3.35 billion. Zynga has a 1-year low of $2.40 and a 1-year high of $4.02. The company has a 50 day moving average of $3.68 and a 200 day moving average of $3.37.
In other news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $3.77, for a total transaction of $45,240.00. Following the completion of the sale, the director now owns 134,478 shares of the company’s stock, valued at approximately $506,982.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 36,000 shares of company stock worth $132,360 in the last 90 days. Company insiders own 12.43% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Zynga by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 60,801,279 shares of the company’s stock worth $221,316,000 after acquiring an additional 164,384 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Zynga by 10.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,752,591 shares of the company’s stock worth $153,195,000 after acquiring an additional 5,142,597 shares in the last quarter. BlackRock Inc. increased its holdings in Zynga by 5,061.5% in the 1st quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock worth $102,420,000 after acquiring an additional 35,240,491 shares in the last quarter. Morgan Stanley increased its holdings in Zynga by 30.4% in the 1st quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock worth $78,186,000 after acquiring an additional 6,397,949 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Zynga by 33.4% in the 2nd quarter. Renaissance Technologies LLC now owns 23,009,600 shares of the company’s stock worth $83,755,000 after acquiring an additional 5,759,000 shares in the last quarter. 68.19% of the stock is owned by institutional investors.
Zynga Company Profile
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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