Zynga Inc. (ZNGA) Expected to Post Quarterly Sales of $209.85 Million

Analysts expect Zynga Inc. (NASDAQ:ZNGA) to post $209.85 million in sales for the current fiscal quarter, according to Zacks. 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 posted sales of $196.72 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The business is scheduled to report 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 financial year, with estimates ranging from $837.57 million to $854.45 million. For the next fiscal year, analysts anticipate that the business will report sales of $916.63 million per share, with estimates ranging from $881.17 million to $974.17 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Zynga.

Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share 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 analyst estimates of $201.64 million. The business’s revenue was up 15.1% on a year-over-year basis.

ZNGA has been the topic of several research reports. Zacks Investment Research lowered shares of Zynga from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Morgan Stanley reissued an “overweight” rating and set a $3.70 price objective on shares of Zynga in a research note 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 research note on Monday, July 31st. BidaskClub lowered shares of Zynga from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Piper Jaffray Companies set a $4.00 price objective on shares of Zynga and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $4.09.

In other news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $3.77, for a total value of $45,240.00. Following the transaction, the director now owns 134,478 shares in the company, valued at $506,982.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 12.43% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc lifted its stake in shares of Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after buying an additional 98 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Zynga by 23.2% during the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after purchasing an additional 5,815 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Zynga during the first quarter valued at approximately $116,000. Timber Hill LLC raised its holdings in shares of Zynga by 49.0% during the second quarter. Timber Hill LLC now owns 44,446 shares of the company’s stock valued at $162,000 after purchasing an additional 14,616 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Zynga by 9.1% during the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after purchasing an additional 3,700 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

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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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