Brokerages predict Zynga Inc. (NASDAQ:ZNGA – Get Rating) will report $735.25 million in sales for the current fiscal quarter, Zacks reports. Six analysts released estimates for Zynga’s earnings, with estimates ranging from $703.00 million to $756.60 million. Zynga reported sales of $719.50 million in the same quarter last year, suggesting a positive year-over-year growth rate of 2.2%. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Zynga to report annual sales of $3.11 billion for the current fiscal year, with estimates ranging from $3.02 billion to $3.16 billion. For the next fiscal year, analysts expect the company to post sales of $3.41 billion, with estimates ranging from $3.34 billion to $3.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that provide coverage for Zynga.
Zynga (NASDAQ:ZNGA – Get Rating) last released its quarterly earnings data on Wednesday, February 9. The company reported ($0.03) earnings per share (EPS) for the quarter, missing Thomson Reuters consensus estimate of $0.04 per ($0.07). Zynga had a positive return on equity of 2.74% and a negative net margin of 3.72%. The company posted revenue of $695.40 million for the quarter, versus a consensus estimate of $719.60 million.
A number of equity research analysts commented on the stock. Robert W. Baird downgraded Zynga shares from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $9.00 in a Friday report February 25. Jefferies Financial Group downgraded Zynga’s shares from a “buy” rating to a “hold” rating and set a target price of $10.00 for the stock. in a report on Tuesday, January 18. Credit Suisse Group upgraded Zynga shares from an ‘underperforming’ to a ‘neutral’ rating and raised its price target for the company from $9.00 to $9.86 in a Tuesday report January 11. UBS Group lowered its target price on Zynga shares from $13.50 to $10.00 and set a “neutral” rating on the stock in a Tuesday, March 15 report. Finally, Morgan Stanley downgraded Zynga shares from an “overweight” rating to an “equally weighted” rating and lowered their target price for the stock from $10.50 to $10.00 in a Wednesday 19 report. january. Twelve equity research analysts rated the stock with a hold rating and eight gave the company a buy rating. Based on data from MarketBeat.com, Zynga currently has an average rating of “Hold” and a consensus price target of $10.64.
Shares of Zynga traded up $0.04 during the midday session on Wednesday, hitting $8.96. 21,772,122 shares were traded, against an average volume of 35,277,941. The company has a market capitalization of $10.15 billion, a price-earnings ratio of -89.60 and a beta of -0.07. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt ratio of 0.43. The company has a 50-day simple moving average of $9.05 and a 200-day simple moving average of $7.90. Zynga has a fifty-two week low of $5.57 and a fifty-two week high of $11.37.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC increased its holdings of Zynga shares by 58.5% in the third quarter. Neuberger Berman Group LLC now owns 32,092,306 shares of the company valued at $241,655,000 after acquiring an additional 11,839,136 shares in the last quarter. Norges Bank bought a new stake in Zynga in Q4 worth approximately $60,517,000. William Blair Investment Management LLC increased its position in Zynga shares by 45.4% during the fourth quarter. William Blair Investment Management LLC now owns 26,343,092 shares of the company valued at $168,596,000 after purchasing an additional 8,229,034 shares last quarter. National Bank of Canada FI bought a new position in Zynga stock during the 4th quarter valued at approximately $47,149,000. Finally, Point72 Asset Management LP increased its stake in Zynga to 96.7% in the 4th quarter. Point72 Asset Management LP now owns 12,724,200 shares of the company valued at $81,435,000 after purchasing an additional 6,256,834 shares in the last quarter. 79.94% of the shares are held by institutional investors.
About Zynga (Get a rating)
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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