Zynga Inc (NASDAQ:ZNGA) – Equities researchers at Wedbush issued their Q4 2018 earnings estimates for Zynga in a report released on Thursday, November 1st. Wedbush analyst M. Pachter expects that the company will post earnings per share of $0.01 for the quarter. Wedbush has a “Buy” rating and a $6.00 price objective on the stock.
Several other research firms also recently weighed in on ZNGA. BidaskClub upgraded shares of Zynga from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Credit Suisse Group dropped their target price on shares of Zynga from $4.90 to $4.50 and set an “underperform” rating for the company in a report on Thursday, November 1st. Stifel Nicolaus started coverage on shares of Zynga in a report on Thursday, September 27th. They set a “buy” rating and a $5.00 target price for the company. Barclays set a $3.40 target price on shares of Zynga and gave the company an “underweight” rating in a report on Thursday, November 1st. Finally, ValuEngine downgraded shares of Zynga from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $4.82.
NASDAQ:ZNGA opened at $3.71 on Monday. Zynga has a twelve month low of $3.20 and a twelve month high of $4.57. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 123.67, a price-to-earnings-growth ratio of 2.28 and a beta of 0.42.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The business had revenue of $233.24 million during the quarter, compared to the consensus estimate of $224.54 million. Zynga had a net margin of 3.12% and a return on equity of 1.89%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $3.90, for a total value of $46,800.00. Following the sale, the director now directly owns 201,277 shares of the company’s stock, valued at $784,980.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew S. Bromberg sold 41,500 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $3.95, for a total transaction of $163,925.00. Following the completion of the sale, the chief operating officer now directly owns 493,294 shares in the company, valued at $1,948,511.30. The disclosure for this sale can be found here. Insiders have sold a total of 576,322 shares of company stock worth $2,177,796 over the last ninety days. 11.87% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maplelane Capital LLC acquired a new stake in shares of Zynga in the second quarter worth approximately $2,035,000. Cubist Systematic Strategies LLC lifted its position in Zynga by 20.6% during the second quarter. Cubist Systematic Strategies LLC now owns 236,303 shares of the company’s stock valued at $962,000 after buying an additional 40,419 shares in the last quarter. FMR LLC acquired a new position in Zynga during the second quarter valued at approximately $1,927,000. Lourd Capital LLC acquired a new position in Zynga during the third quarter valued at approximately $109,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Zynga by 8.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,532,152 shares of the company’s stock valued at $14,376,000 after buying an additional 274,007 shares in the last quarter. 74.60% of the stock is currently owned by institutional investors and hedge funds.
Zynga Company Profile
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.
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