Wedbush Weighs in on Zynga Inc’s Q4 2018 Earnings (ZNGA)

Zynga Inc (NASDAQ:ZNGA) – Wedbush issued their Q4 2018 EPS estimates for Zynga in a note issued to investors on Thursday, November 1st. Wedbush analyst M. Pachter anticipates that the company will post earnings per share of $0.01 for the quarter. Wedbush currently has a “Buy” rating and a $6.00 target price on the stock.

A number of other brokerages have also weighed in on ZNGA. Jefferies Financial Group restated a “buy” rating and issued a $5.25 target price on shares of Zynga in a research note on Thursday, October 11th. BidaskClub lowered Zynga from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Morgan Stanley raised their target price on Zynga from $4.50 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. ValuEngine upgraded Zynga from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Finally, Stifel Nicolaus assumed coverage on Zynga in a research note on Thursday, September 27th. They issued a “buy” rating and a $5.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.82.

Shares of NASDAQ:ZNGA opened at $3.71 on Monday. Zynga has a twelve month low of $3.20 and a twelve month high of $4.57. The firm has a market capitalization of $3.23 billion, a PE ratio of 123.67, a price-to-earnings-growth ratio of 2.28 and a beta of 0.42.

Zynga (NASDAQ:ZNGA) last announced its earnings results on Wednesday, October 31st. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Zynga had a return on equity of 1.89% and a net margin of 3.12%. The company had revenue of $233.24 million during the quarter, compared to analyst estimates of $224.54 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year.

A number of institutional investors have recently bought and sold shares of the stock. ING Groep NV bought a new position in Zynga during the third quarter worth about $8,337,000. American Century Companies Inc. bought a new position in Zynga during the third quarter worth about $5,719,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Zynga by 12.5% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 121,500 shares of the company’s stock worth $487,000 after buying an additional 13,500 shares during the last quarter. Private Advisor Group LLC bought a new position in Zynga during the third quarter worth about $193,000. Finally, Sterling Capital Management LLC boosted its holdings in Zynga by 19.7% during the third quarter. Sterling Capital Management LLC now owns 871,689 shares of the company’s stock worth $3,495,000 after buying an additional 143,541 shares during the last quarter. Institutional investors and hedge funds own 74.60% of the company’s stock.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $3.92, for a total value of $47,040.00. Following the transaction, the director now owns 213,277 shares in the company, valued at $836,045.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark J. Pincus sold 437,322 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $3.70, for a total value of $1,618,091.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 576,322 shares of company stock worth $2,177,796. 11.87% of the stock is owned by company insiders.

Zynga Company Profile

Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.

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Earnings History and Estimates for Zynga (NASDAQ:ZNGA)

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