Wall Street analysts expect that Zynga Inc (NASDAQ:ZNGA) will announce sales of $252.68 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Zynga’s earnings, with the lowest sales estimate coming in at $250.92 million and the highest estimate coming in at $255.00 million. Zynga reported sales of $223.79 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The company is expected to issue its next quarterly earnings results on Wednesday, February 6th.
On average, analysts expect that Zynga will report full year sales of $957.60 million for the current fiscal year, with estimates ranging from $953.19 million to $973.61 million. For the next year, analysts anticipate that the company will post sales of $1.10 billion, with estimates ranging from $1.01 billion to $1.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Zynga.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, October 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $233.24 million for the quarter, compared to analyst estimates of $224.54 million. Zynga had a return on equity of 1.89% and a net margin of 3.12%. Zynga’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share.
Several equities analysts recently commented on ZNGA shares. Stifel Nicolaus started coverage on Zynga in a report on Thursday, September 27th. They issued a “buy” rating and a $5.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $5.25 target price on shares of Zynga in a report on Thursday, October 11th. Barclays started coverage on Zynga in a report on Thursday, August 9th. They issued an “underweight” rating and a $3.70 target price on the stock. BidaskClub lowered Zynga from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Finally, Wedbush reissued a “buy” rating and issued a $6.00 target price on shares of Zynga in a report on Friday, October 26th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.85.
NASDAQ:ZNGA traded down $0.10 during trading hours on Wednesday, hitting $3.55. The company’s stock had a trading volume of 11,130,875 shares, compared to its average volume of 9,548,829. The firm has a market capitalization of $3.12 billion, a PE ratio of 118.33, a price-to-earnings-growth ratio of 1.75 and a beta of 0.33. Zynga has a 52-week low of $3.20 and a 52-week high of $4.57.
In other Zynga news, COO Matthew S. Bromberg sold 41,500 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $3.95, for a total transaction of $163,925.00. Following the transaction, the chief operating officer now owns 493,294 shares of the company’s stock, valued at $1,948,511.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $3.90, for a total value of $46,800.00. Following the transaction, the director now directly owns 201,277 shares in the company, valued at approximately $784,980.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 584,322 shares of company stock worth $2,201,476. Corporate insiders own 11.87% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Maplelane Capital LLC purchased a new position in shares of Zynga during the second quarter worth about $2,035,000. Cubist Systematic Strategies LLC grew its holdings in shares of Zynga by 20.6% during the second quarter. Cubist Systematic Strategies LLC now owns 236,303 shares of the company’s stock worth $962,000 after purchasing an additional 40,419 shares during the last quarter. FMR LLC purchased a new position in shares of Zynga during the second quarter worth about $1,927,000. Lourd Capital LLC purchased a new position in shares of Zynga during the third quarter worth about $109,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Zynga by 8.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,532,152 shares of the company’s stock worth $14,376,000 after purchasing an additional 274,007 shares during the last quarter. 78.92% of the stock is currently owned by institutional investors.
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.
Further Reading: Investing in Growth Stocks
Get a free copy of the Zacks research report on Zynga (ZNGA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.