Wall Street analysts expect Zynga Inc. (NASDAQ:ZNGA – Get Rating) to report sales of $735.25 million for the current fiscal quarter, reports Zacks Investment Research. Six analysts have released earnings estimates for Zynga. The highest sales estimate is $756.60 million and the lowest is $703.00 million. Zynga posted sales of $719.50 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The company is expected to announce its next results after the market closes on Monday, January 1.
According to Zacks, analysts expect Zynga to report annual sales of $3.11 billion for the current year, with estimates ranging from $3.02 billion to $3.16 billion. For next year, analysts expect the company to post sales of $3.41 billion, with estimates ranging from $3.34 billion to $3.55 billion. Zacks sales calculations are an average average based on a survey of sell-side analysts who follow Zynga.
Zynga (NASDAQ:ZNGA – Get Rating) last released its quarterly results on Wednesday, February 9. The company reported ($0.03) earnings per share for the quarter, missing the Zacks consensus estimate of $0.04 per ($0.07). The company posted revenue of $695.40 million for the quarter, compared to $719.60 million expected by analysts. Zynga had a positive return on equity of 2.74% and a negative net margin of 3.72%.
ZNGA has been the subject of a number of research reports. Wells Fargo & Company lowered its price target on Zynga from $13.00 to $9.86 and set an “overweight” rating for the company in a Tuesday, January 11 research report. Credit Suisse Group downgraded Zynga shares from an ‘underperforming’ rating to a ‘neutral’ rating and raised its target price for the stock from $9.00 to $9.86 in a report research on Tuesday, January 11. UBS Group cut its price target on Zynga shares from $13.50 to $10.00 and set a “neutral” rating on the stock in a Tuesday, March 15 research report. BTIG Research downgraded Zynga shares from a “buy” rating to a “neutral” rating in a Wednesday, Jan. 19 research note. Finally, MKM Partners downgraded Zynga shares from a “buy” rating to a “neutral” rating and reduced its target price for the company from $10.50 to $9.86 in a Friday 4 research note. March. Twelve equity research analysts gave the stock a hold rating and eight issued a buy rating for the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.64.
Several hedge funds have recently increased or reduced their stakes in the company. Ieq Capital LLC increased its stake in Zynga by 17.1% in the first quarter. Ieq Capital LLC now owns 30,842 shares of the company valued at $285,000 after acquiring 4,510 additional shares in the last quarter. FNY Investment Advisers LLC bought a new equity stake in Zynga in Q1 worth approximately $462,000. Tobam acquired a new equity stake in Zynga in Q1 worth approximately $356,000. Community Trust & Investment Co. increased its position in Zynga shares by 0.8% in the first quarter. Community Trust & Investment Co. now owns 927,417 shares of the company worth $8,569,000 after purchasing an additional 7,176 shares in the last quarter. Finally, Assenagon Asset Management SA increased its stake in Zynga by 52,419.4% in the first quarter. Assenagon Asset Management SA now owns 7,519,206 shares of the company worth $69,477,000 after purchasing an additional 7,504,889 shares last quarter. 79.94% of the shares are held by institutional investors and hedge funds.
ZNGA stock opened Wednesday at $8.46. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt ratio of 0.43. The company has a market capitalization of $9.58 billion, a price-earnings ratio of -84.60 and a beta of -0.07. The company has a fifty-day simple moving average of $9.01 and a 200-day simple moving average of $8.00. Zynga has a 52-week low of $5.57 and a 52-week high of $11.37.
About Zynga (Get an evaluation)
Zynga Inc develops, markets and operates social gaming services in the United States and internationally. The Company offers social games as live services played on mobile platforms, such as Apple iOS and Google Android operating systems; social media platforms, such as Facebook and Snapchat; and personal computer consoles, such as Nintendo’s Switch game console, and other platforms and consoles.
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