Zacks: Brokerages Anticipate Zynga Inc. (ZNGA) Will Post Quarterly Sales of $210.85 Million
Equities analysts expect that Zynga Inc. (NASDAQ:ZNGA) will post $210.85 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Zynga’s earnings. The highest sales estimate is $215.34 million and the lowest is $207.40 million. Zynga reported sales of $196.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.2%. The firm is expected to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Zynga will report full year sales of $210.85 million for the current year, with estimates ranging from $837.57 million to $854.45 million. For the next fiscal year, analysts expect that the company will post sales of $917.97 million per share, with estimates ranging from $881.17 million to $974.17 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Zynga.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year.
Several research analysts have recently commented on ZNGA shares. Morgan Stanley reissued an “overweight” rating and set a $3.70 price objective on shares of Zynga in a report on Saturday, July 22nd. Wedbush reissued an “outperform” rating and set a $4.65 price objective (up previously from $4.25) on shares of Zynga in a report on Monday, July 31st. Zacks Investment Research raised Zynga from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Thursday, August 10th. Canaccord Genuity boosted their price objective on Zynga from $3.00 to $3.50 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) started coverage on Zynga in a report on Friday, September 8th. They set a “neutral” rating and a $3.90 price objective for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $4.06.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $3.62, for a total value of $43,440.00. Following the completion of the sale, the director now owns 158,478 shares of the company’s stock, valued at $573,690.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 36,000 shares of company stock valued at $134,160. 12.43% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. World Asset Management Inc lifted its position in Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock valued at $101,000 after purchasing an additional 98 shares during the last quarter. Clinton Group Inc. lifted its position in Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock valued at $174,000 after purchasing an additional 423 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in Zynga by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 184,005 shares of the company’s stock valued at $670,000 after purchasing an additional 820 shares during the last quarter. Principal Financial Group Inc. lifted its position in Zynga by 2.8% in the first quarter. Principal Financial Group Inc. now owns 92,862 shares of the company’s stock valued at $265,000 after purchasing an additional 2,540 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Zynga by 4.9% in the second quarter. Teacher Retirement System of Texas now owns 63,571 shares of the company’s stock valued at $231,000 after purchasing an additional 2,941 shares during the last quarter. Hedge funds and other institutional investors own 68.19% of the company’s stock.
Shares of Zynga (NASDAQ ZNGA) traded down 0.135% during midday trading on Wednesday, reaching $3.705. 1,066,233 shares of the company’s stock were exchanged. Zynga has a 12 month low of $2.40 and a 12 month high of $4.02. The firm has a 50 day moving average price of $3.75 and a 200 day moving average price of $3.48. The company’s market cap is $2.88 billion.
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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