Equities research analysts expect Zynga Inc. (NASDAQ:ZNGA) to report $709.56 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Zynga's earnings, with the lowest sales estimate coming in at $678.58 million and the highest estimate coming in at $722.50 million. Zynga posted sales of $518.13 million in the same quarter last year, which suggests a positive year over year growth rate of 36.9%. The business is scheduled to report its next quarterly earnings report on Wednesday, August 4th.
On average, analysts expect that Zynga will report full year sales of $2.91 billion for the current year, with estimates ranging from $2.80 billion to $2.96 billion. For the next year, analysts anticipate that the business will report sales of $3.24 billion, with estimates ranging from $3.15 billion to $3.47 billion. Zacks' sales averages are an average based on a survey of sell-side analysts that follow Zynga.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.09 by ($0.04). Zynga had a negative return on equity of 1.33% and a negative net margin of 15.48%. The firm had revenue of $719.50 million during the quarter, compared to analysts' expectations of $685.82 million.
Several equities analysts have weighed in on ZNGA shares. Stifel Nicolaus boosted their target price on shares of Zynga from $13.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 12th. BMO Capital Markets initiated coverage on Zynga in a research report on Monday, April 19th. They issued an "outperform" rating and a $15.00 target price for the company. Zacks Investment Research upgraded shares of Zynga from a "strong sell" rating to a "hold" rating and set a $11.00 price target for the company in a research note on Wednesday, April 14th. Finally, Bank of America upgraded shares of Zynga from a "neutral" rating to a "buy" rating and set a $13.50 target price on the stock in a research note on Wednesday, May 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company's stock. Zynga currently has an average rating of "Buy" and an average target price of $12.46.
Shares of ZNGA opened at $10.55 on Friday. Zynga has a one year low of $7.77 and a one year high of $12.32. The stock has a market capitalization of $11.49 billion, a PE ratio of -31.03, a price-to-earnings-growth ratio of 2.61 and a beta of 0.10. The stock's 50 day moving average price is $10.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.29 and a quick ratio of 1.29.
In other news, Director Regina E. Dugan sold 8,950 shares of the business's stock in a transaction on Monday, April 5th. The shares were sold at an average price of $10.59, for a total value of $94,780.50. Following the sale, the director now owns 205,638 shares of the company's stock, valued at $2,177,706.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ellen F. Siminoff sold 5,000 shares of the firm's stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $10.13, for a total value of $50,650.00. Following the completion of the transaction, the director now owns 12,438 shares of the company's stock, valued at approximately $125,996.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 755,820 shares of company stock worth $7,830,469. 8.30% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its position in shares of Zynga by 25.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 42,035 shares of the company's stock worth $415,000 after purchasing an additional 8,429 shares during the period. Victory Capital Management Inc. grew its holdings in Zynga by 53.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,162,653 shares of the company's stock worth $11,475,000 after acquiring an additional 403,961 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Zynga by 5.3% in the 4th quarter. California Public Employees Retirement System now owns 2,144,676 shares of the company's stock valued at $21,168,000 after buying an additional 107,624 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Zynga by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 341,949 shares of the company's stock valued at $3,375,000 after purchasing an additional 1,250 shares during the period. Finally, Bailard Inc. raised its position in shares of Zynga by 14.0% in the 4th quarter. Bailard Inc. now owns 16,752 shares of the company's stock worth $165,000 after acquiring an additional 2,052 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company's stock.
Zynga Inc provides social game services in the United States and internationally. The company develops, markets, and operates social games as live services played on mobile platforms, such as Apple iOS and Google's Android operating systems; social networking platforms, such as Facebook and Snapchat; and personal computers consoles, such as Nintendo's Switch game console, and other platforms and consoles.
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