Zynga Inc. (ZNGA) Issues Earnings Results
Zynga Inc. (NASDAQ:ZNGA) posted its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01, Briefing.com reports. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $211.98 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. Zynga updated its Q4 guidance to $0.01 EPS.
Zynga (NASDAQ:ZNGA) opened at $3.67 on Wednesday. Zynga has a 1 year low of $2.40 and a 1 year high of $4.02.
A number of equities research analysts have issued reports on ZNGA shares. Morgan Stanley reiterated an “overweight” rating and issued a $3.70 target price on shares of Zynga in a research note on Saturday, July 22nd. Cowen and Company reiterated a “buy” rating and issued a $4.50 target price on shares of Zynga in a research note on Thursday, October 12th. Goldman Sachs Group, Inc. (The) assumed coverage on Zynga in a research note on Friday, September 8th. They issued a “neutral” rating and a $3.90 target price on the stock. Wedbush set a $5.00 price target on Zynga and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, KeyCorp reissued a “hold” rating on shares of Zynga in a report on Tuesday, October 17th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $4.09.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $3.86, for a total transaction of $46,320.00. Following the completion of the sale, the director now directly owns 139,900 shares in the company, valued at approximately $540,014. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 36,000 shares of company stock valued at $137,040 in the last quarter. 12.43% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Zynga stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Zynga Inc. (NASDAQ:ZNGA) by 23.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,835 shares of the company’s stock after acquiring an additional 5,815 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Zynga were worth $112,000 at the end of the most recent quarter. 69.31% of the stock is currently owned by institutional investors and hedge funds.
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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