$214.40 Million in Sales Expected for Zynga Inc (ZNGA) This Quarter

Wall Street brokerages expect Zynga Inc (NASDAQ:ZNGA) to post $214.40 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Zynga’s earnings. The highest sales estimate is $217.80 million and the lowest is $210.21 million. Zynga reported sales of $201.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.4%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, February 7th.

According to Zacks, analysts expect that Zynga will report full-year sales of $214.40 million for the current year, with estimates ranging from $840.24 million to $847.80 million. For the next financial year, analysts forecast that the company will report sales of $925.35 million per share, with estimates ranging from $881.13 million to $952.00 million. Zacks Investment Research’s sales averages 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 quarterly earnings results on Tuesday, November 7th. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $211.98 million. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share.

A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Zynga from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 15th. Consumer Edge assumed coverage on shares of Zynga in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 price target on the stock. BidaskClub cut shares of Zynga from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. KeyCorp restated a “hold” rating on shares of Zynga in a report on Tuesday, October 17th. Finally, Cowen restated a “buy” rating and issued a $4.50 price target on shares of Zynga in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $4.14.

Zynga (NASDAQ:ZNGA) opened at $3.73 on Friday. The company has a market cap of $3,280.00, a PE ratio of -124.33, a PEG ratio of 2.71 and a beta of 0.76. Zynga has a 1-year low of $2.40 and a 1-year high of $4.34.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $3.97, for a total value of $47,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 50,000 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $3.95, for a total transaction of $197,500.00. Following the completion of the sale, the chief operating officer now directly owns 294,206 shares of the company’s stock, valued at $1,162,113.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,000 shares of company stock valued at $1,053,880. 12.43% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Zynga by 0.3% during the second quarter. Vanguard Group Inc. now owns 60,801,279 shares of the company’s stock valued at $221,316,000 after buying an additional 164,384 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Zynga by 14.8% during the third quarter. First Trust Advisors LP now owns 13,188,402 shares of the company’s stock valued at $49,852,000 after buying an additional 1,697,862 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Zynga by 1.5% during the third quarter. American Century Companies Inc. now owns 9,266,153 shares of the company’s stock valued at $35,026,000 after buying an additional 140,368 shares during the last quarter. River & Mercantile Asset Management LLP lifted its position in shares of Zynga by 126.3% during the third quarter. River & Mercantile Asset Management LLP now owns 7,707,049 shares of the company’s stock valued at $29,171,000 after buying an additional 4,301,645 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in shares of Zynga by 453.4% during the third quarter. Alyeska Investment Group L.P. now owns 7,107,304 shares of the company’s stock valued at $26,866,000 after buying an additional 5,822,916 shares during the last quarter. 70.47% of the stock is owned by institutional investors and hedge funds.

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About Zynga

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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