Equities analysts expect that Zynga (NASDAQ:ZNGA) will post $213.57 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Zynga’s earnings. The highest sales estimate is $220.00 million and the lowest is $210.07 million. Zynga reported sales of $207.36 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The firm is expected to issue its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Zynga will report full year sales of $213.57 million for the current year, with estimates ranging from $897.90 million to $952.00 million. For the next fiscal year, analysts expect that the company will post sales of $1.02 billion per share, with estimates ranging from $923.40 million to $1.11 billion. 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, February 7th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). The company had revenue of $233.30 million for the quarter, compared to analyst estimates of $218.64 million. Zynga had a return on equity of 1.66% and a net margin of 3.09%. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share.
ZNGA has been the topic of several recent research reports. Zacks Investment Research cut Zynga from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 13th. BidaskClub cut Zynga from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 31st. Consumer Edge initiated coverage on Zynga in a report on Wednesday, January 3rd. They set an “overweight” rating and a $4.50 target price on the stock. Jefferies Group restated a “buy” rating and set a $5.00 target price on shares of Zynga in a report on Sunday, February 11th. Finally, Credit Suisse Group boosted their target price on Zynga from $3.80 to $4.00 and gave the stock an “underperform” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.24.
Shares of Zynga stock traded down $0.08 on Thursday, hitting $3.44. 10,457,423 shares of the company were exchanged, compared to its average volume of 10,868,572. The stock has a market cap of $2,997.60, a P/E ratio of 114.67, a P/E/G ratio of 2.51 and a beta of 0.48. Zynga has a 1-year low of $2.73 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 that occurred on Wednesday, January 24th. The stock was sold at an average price of $3.74, for a total value of $44,880.00. Following the transaction, the director now directly owns 247,900 shares in the company, valued at $927,146. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Matthew S. Bromberg sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $3.92, for a total value of $78,400.00. Following the completion of the transaction, the chief operating officer now owns 274,206 shares in the company, valued at $1,074,887.52. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock worth $212,320 over the last quarter. 11.87% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new position in Zynga in the third quarter valued at approximately $5,461,000. TD Asset Management Inc. raised its position in Zynga by 13.6% in the third quarter. TD Asset Management Inc. now owns 278,900 shares of the company’s stock valued at $1,054,000 after purchasing an additional 33,400 shares during the period. OppenheimerFunds Inc. raised its position in Zynga by 111.8% in the fourth quarter. OppenheimerFunds Inc. now owns 20,071,799 shares of the company’s stock valued at $80,287,000 after purchasing an additional 10,596,901 shares during the period. Swiss National Bank raised its position in Zynga by 2.8% in the fourth quarter. Swiss National Bank now owns 1,322,953 shares of the company’s stock valued at $5,292,000 after purchasing an additional 36,100 shares during the period. Finally, Alambic Investment Management L.P. raised its position in Zynga by 46.5% in the fourth quarter. Alambic Investment Management L.P. now owns 1,854,400 shares of the company’s stock valued at $7,418,000 after purchasing an additional 588,900 shares during the period. Hedge funds and other institutional investors own 71.37% of the company’s stock.
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Zynga Company Profile
Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems With Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.
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