Zynga Inc. (ZNGA) Expected to Post Earnings of $0.01 Per Share
Analysts expect that Zynga Inc. (NASDAQ:ZNGA) will report earnings per share (EPS) of $0.01 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Zynga’s earnings, with estimates ranging from $0.00 to $0.01. Zynga reported earnings per share of ($0.03) in the same quarter last year, which would suggest a positive year over year growth rate of 133.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Zynga will report full year earnings of $0.02 per share for the current financial year, with EPS estimates ranging from ($0.01) to $0.04. For the next fiscal year, analysts anticipate that the business will report earnings of $0.04 per share, with EPS estimates ranging from $0.02 to $0.05. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Zynga.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. The company’s quarterly revenue was up 15.1% compared to the same quarter last year.
A number of equities analysts have recently commented on ZNGA shares. Canaccord Genuity boosted their price target on Zynga from $3.00 to $3.50 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and issued a $3.50 target price on shares of Zynga in a report on Friday, May 5th. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Bank of America Corporation upped their target price on Zynga from $2.50 to $3.25 in a report on Monday, May 15th. Finally, Wedbush upped their target price on Zynga from $4.25 to $4.65 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $4.01.
Shares of Zynga (ZNGA) traded down 0.83% during mid-day trading on Monday, hitting $3.59. The stock had a trading volume of 1,555,160 shares. The stock’s 50-day moving average price is $3.64 and its 200 day moving average price is $3.18. Zynga has a 1-year low of $2.40 and a 1-year high of $3.86. The company’s market capitalization is $3.11 billion.
In other news, Director William B. Gordon sold 549,637 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $3.52, for a total value of $1,934,722.24. Following the completion of the sale, the director now owns 832,603 shares of the company’s stock, valued at $2,930,762.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $3.56, for a total value of $42,720.00. Following the completion of the sale, the director now directly owns 153,057 shares of the company’s stock, valued at approximately $544,882.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,818,010 shares of company stock valued at $6,377,868. Insiders own 12.43% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Zynga by 52.3% in the second quarter. Public Employees Retirement System of Ohio now owns 270,632 shares of the company’s stock valued at $985,000 after buying an additional 92,988 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Zynga by 23.2% in the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after buying an additional 5,815 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Zynga during the second quarter valued at approximately $1,476,000. Cubist Systematic Strategies LLC raised its stake in shares of Zynga by 498.3% in the second quarter. Cubist Systematic Strategies LLC now owns 205,212 shares of the company’s stock valued at $747,000 after buying an additional 170,912 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new stake in shares of Zynga during the second quarter valued at approximately $11,648,000. 68.43% of the stock is owned by institutional investors.
Zynga Company Profile
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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