$209.85 Million in Sales Expected for Zynga Inc. (ZNGA) This Quarter
Brokerages expect Zynga Inc. (NASDAQ:ZNGA) to post $209.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Zynga’s earnings, with the lowest sales estimate coming in at $207.40 million and the highest estimate coming in at $215.34 million. Zynga reported sales of $196.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Zynga will report full year sales of $209.85 million for the current year, with estimates ranging from $837.57 million to $854.45 million. For the next year, analysts anticipate that the business will post sales of $916.63 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 issued its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The firm had revenue of $209.20 million during the quarter, compared to the consensus estimate of $201.64 million. The business’s revenue was up 15.1% compared to the same quarter last year.
A number of brokerages recently commented on ZNGA. Morgan Stanley reaffirmed an “overweight” rating and issued a $3.70 target price on shares of Zynga in a report on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and issued a $4.50 target price on shares of Zynga in a report on Thursday, October 12th. Goldman Sachs Group, Inc. (The) began coverage on Zynga in a report on Friday, September 8th. They issued a “neutral” rating and a $3.90 target price on the stock. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, Wedbush set a $5.00 target price on Zynga and gave the stock a “buy” rating in a report on Wednesday, October 18th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $4.09.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $3.77, for a total transaction of $45,240.00. Following the sale, the director now directly owns 134,478 shares of the company’s stock, valued at $506,982.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 36,000 shares of company stock worth $134,160. Insiders own 12.43% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. World Asset Management Inc grew its position in shares of Zynga by 0.4% during 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 in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Zynga by 0.4% during 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 in the last quarter. Principal Financial Group Inc. grew its position in shares of Zynga by 2.8% during 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 in the last quarter. Teacher Retirement System of Texas grew its position in shares of Zynga by 4.9% during 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 in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Zynga by 4.5% during the second quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock valued at $274,000 after purchasing an additional 3,261 shares in the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.
Shares of Zynga (NASDAQ ZNGA) opened at 3.77 on Monday. The company’s market capitalization is $3.26 billion. Zynga has a 1-year low of $2.40 and a 1-year high of $4.02. The company’s 50 day moving average price is $3.80 and its 200-day moving average price is $3.56.
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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