Equities analysts forecast that Zynga Inc (NASDAQ:ZNGA) will announce $0.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Zynga’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.06. Zynga posted earnings of $0.02 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 150%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, July 31st.
On average, analysts expect that Zynga will report full year earnings of $0.23 per share for the current fiscal year, with EPS estimates ranging from $0.20 to $0.24. For the next fiscal year, analysts forecast that the business will report earnings of $0.26 per share, with EPS estimates ranging from $0.22 to $0.29. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Zynga.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.17). Zynga had a negative net margin of 12.34% and a negative return on equity of 7.09%. The firm had revenue of $265.00 million during the quarter, compared to the consensus estimate of $255.45 million. During the same period last year, the business earned $0.01 EPS. The business’s revenue was up 27.4% on a year-over-year basis.
ZNGA has been the subject of a number of analyst reports. Robert W. Baird raised shares of Zynga from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $5.00 to $8.00 in a research report on Thursday, May 2nd. Wedbush set a $8.00 target price on shares of Zynga and gave the stock a “buy” rating in a research note on Tuesday, May 28th. KeyCorp raised their target price on shares of Zynga from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. BidaskClub cut shares of Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Stephens assumed coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.72.
In other Zynga news, insider Jeffrey Miles Ryan sold 36,798 shares of Zynga stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.09, for a total value of $224,099.82. Following the completion of the sale, the insider now owns 10,667 shares in the company, valued at approximately $64,962.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 41,500 shares of Zynga stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $6.11, for a total transaction of $253,565.00. Following the completion of the sale, the chief operating officer now owns 707,203 shares of the company’s stock, valued at approximately $4,321,010.33. The disclosure for this sale can be found here. Insiders sold a total of 2,508,703 shares of company stock valued at $13,960,844 in the last quarter. Corporate insiders own 9.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of ZNGA. FMR LLC raised its stake in Zynga by 6,486,449.1% in the 4th quarter. FMR LLC now owns 15,048,794 shares of the company’s stock worth $59,142,000 after purchasing an additional 15,048,562 shares in the last quarter. Norges Bank acquired a new stake in Zynga in the 4th quarter worth about $41,398,000. TimesSquare Capital Management LLC raised its stake in Zynga by 228.2% in the 1st quarter. TimesSquare Capital Management LLC now owns 13,256,300 shares of the company’s stock worth $70,656,000 after purchasing an additional 9,217,100 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Zynga in the 4th quarter worth about $19,741,000. Finally, First Trust Advisors LP raised its stake in Zynga by 13.0% in the 1st quarter. First Trust Advisors LP now owns 25,671,314 shares of the company’s stock worth $136,828,000 after purchasing an additional 2,958,148 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.
Shares of ZNGA traded down $0.02 during midday trading on Friday, reaching $6.28. The stock had a trading volume of 29,106,012 shares, compared to its average volume of 19,833,420. The company’s 50 day simple moving average is $6.21. Zynga has a one year low of $3.32 and a one year high of $6.55. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 314.00, a PEG ratio of 3.17 and a beta of 0.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.71 and a current ratio of 0.71.
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 Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.
Recommended Story: What is Cost of Goods Sold (COGS)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.