Wall Street analysts expect Zynga Inc. (NASDAQ:ZNGA – Get Rating) to report $736.09 million in sales for the current fiscal quarter, Zacks reports. Five analysts provided estimates of Zynga’s earnings. The highest sales estimate is $801.73 million and the lowest is $698.00 million. Zynga reported sales of $711.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Zynga to report annual sales of $3.02 billion for the current year, with estimates ranging from $2.79 billion to $3.26 billion. For the next fiscal year, analysts expect the company to record sales of $3.20 billion, with estimates ranging from $2.80 billion to $3.40 billion. Zacks sales averages are an average average based on a survey of sell-side analysts who follow Zynga.
A number of research analysts have commented on the headline. BTIG Research upgraded Zynga’s shares from a “buy” rating to a “neutral” rating in a Wednesday, January 19 research report. StockNews.com took over Zynga’s stock coverage in a Thursday, March 31 research note. They issued a “holding” rating for the company. Robert W. Baird downgraded Zynga shares from an “outperforming” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $9.00 in a research note Friday, February 25. UBS Group cut its price target on Zynga shares from $13.50 to $10.00 and set a “neutral” rating for the company in a Tuesday, March 15 research note. Finally, Benchmark upgraded Zynga’s shares from a “buy” rating to a “hold” rating in a report on Monday, February 28. Twelve equity research analysts gave the stock a hold rating and seven gave the company a buy rating. Based on data from MarketBeat, Zynga has a consensus rating of “Hold” and a consensus price target of $10.48.
Major investors have recently been buying and selling shares of the company. Elequin Capital LP purchased a new equity stake in Zynga in Q1 worth approximately $33,000. Quadrant Capital Group LLC increased its holdings of Zynga shares by 168.3% in the first quarter. Quadrant Capital Group LLC now owns 4,209 shares of the company worth $39,000 after purchasing an additional 2,640 shares during the period. Aaron Wealth Advisors LLC bought a new equity stake in Zynga in the first quarter worth approximately $543,000. Exane Derivatives bought a new equity stake in Zynga in the first quarter for a value of approximately $47,000. Finally, Prospera Financial Services Inc purchased a new equity stake in Zynga in the first quarter worth approximately $63,000. 77.40% of the shares are held by institutional investors and hedge funds.
NASDAQ:ZNGA shares opened at $7.92 on Tuesday. The company has a market capitalization of $8.97 billion, a P/E ratio of -79.20 and a beta of 0.03. Zynga has a fifty-two week low of $5.57 and a fifty-two week high of $11.25. The company has a debt ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.12. The company’s 50-day moving average is $8.76 and its 200-day moving average is $8.06.
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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