Zynga Inc. (ZNGA) Set to Announce Earnings on Tuesday
Zynga Inc. (NASDAQ:ZNGA) will release its earnings data after the market closes on Tuesday, November 7th. Analysts expect Zynga to post earnings of $0.02 per share for the quarter.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $201.64 million. The company’s revenue was up 15.1% on a year-over-year basis. On average, analysts expect Zynga to post $0.10 EPS for the current fiscal year and $0.13 EPS for the next fiscal year.
Shares of Zynga Inc. (NASDAQ:ZNGA) opened at 3.82 on Tuesday. The firm has a 50-day moving average price of $3.81 and a 200-day moving average price of $3.58. Zynga Inc. has a 52 week low of $2.40 and a 52 week high of $4.02. The stock’s market cap is $3.31 billion.
A number of research analysts have weighed in on ZNGA shares. Canaccord Genuity upped their price objective on shares of Zynga from $3.00 to $3.50 and gave the stock 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 upped their price objective on shares of Zynga from $4.25 to $4.65 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Robert W. Baird reissued a “hold” rating and set a $4.00 target price on shares of Zynga in a research note on Friday, September 15th. Finally, Benchmark Co. reissued a “buy” rating and set a $4.35 target price (up previously from $3.65) on shares of Zynga in a research note on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.09.
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In related news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $3.79, for a total transaction of $45,480.00. Following the completion of the sale, the director now owns 122,478 shares of the company’s stock, valued at approximately $464,191.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.43% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Zynga stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Zynga Inc. (NASDAQ:ZNGA) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,835 shares of the company’s stock after acquiring an additional 5,815 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Zynga were worth $112,000 at the end of the most recent reporting period. 69.11% of the stock is currently owned by institutional investors and hedge funds.
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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