$252.68 Million in Sales Expected for Zynga Inc (ZNGA) This Quarter

Brokerages expect Zynga Inc (NASDAQ:ZNGA) to announce $252.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Zynga’s earnings. The lowest sales estimate is $250.92 million and the highest is $255.00 million. Zynga reported sales of $223.79 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.9%. The firm is scheduled to announce its next earnings results on Wednesday, February 6th.

According to Zacks, analysts expect that Zynga will report full-year sales of $957.60 million for the current financial year, with estimates ranging from $953.19 million to $973.61 million. For the next fiscal year, analysts forecast that the business will post sales of $1.10 billion, with estimates ranging from $1.01 billion to $1.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Zynga.

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

Several brokerages have recently commented on ZNGA. BidaskClub raised shares of Zynga from a “strong sell” rating to a “sell” rating in a research report on Friday, August 31st. Zacks Investment Research cut shares of Zynga from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised shares of Zynga from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Morgan Stanley increased their price target on shares of Zynga from $4.70 to $5.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Finally, Wedbush set a $6.00 price target on shares of Zynga and gave the stock a “buy” rating in a research report on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $4.82.

In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $3.93, for a total value of $47,160.00. Following the transaction, the director now owns 189,277 shares of the company’s stock, valued at $743,858.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $3.70, for a total transaction of $1,618,091.40. The disclosure for this sale can be found here. Insiders sold 576,322 shares of company stock worth $2,177,796 in the last three months. 11.87% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board lifted its holdings in Zynga by 68.5% in the third quarter. Canada Pension Plan Investment Board now owns 3,307,520 shares of the company’s stock worth $13,263,000 after acquiring an additional 1,344,620 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Zynga by 179.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 24,635 shares of the company’s stock valued at $103,000 after purchasing an additional 15,835 shares during the period. Blue Sky Asset Management LLC acquired a new stake in shares of Zynga in the third quarter valued at approximately $198,000. BlackRock Inc. increased its stake in shares of Zynga by 19.0% in the third quarter. BlackRock Inc. now owns 72,114,183 shares of the company’s stock valued at $289,178,000 after purchasing an additional 11,520,469 shares during the period. Finally, Iridian Asset Management LLC CT acquired a new stake in shares of Zynga in the third quarter valued at approximately $153,074,000. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ZNGA stock traded down $0.18 during trading hours on Monday, hitting $3.61. 16,997,800 shares of the company were exchanged, compared to its average volume of 14,570,886. Zynga has a one year low of $3.20 and a one year high of $4.57. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 120.33, a PEG ratio of 1.80 and a beta of 0.42.

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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