Zynga Inc (ZNGA) Expected to Announce Quarterly Sales of $213.57 Million

Wall Street analysts expect that Zynga Inc (NASDAQ:ZNGA) will report sales of $213.57 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Zynga’s earnings. The highest sales estimate is $220.00 million and the lowest is $210.07 million. Zynga posted sales of $207.36 million during the same quarter last year, which would indicate a positive year over year growth rate of 3%. The firm is expected to issue its next earnings results on Thursday, May 3rd.

On average, analysts expect that Zynga will report full year sales of $213.57 million for the current fiscal year, with estimates ranging from $897.90 million to $952.00 million. For the next fiscal year, analysts expect that the business will report sales of $1.02 billion per share, with estimates ranging from $923.40 million to $1.11 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Zynga.

Zynga (NASDAQ:ZNGA) last released its earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). The company had revenue of $233.30 million for the quarter, compared to the consensus estimate of $218.64 million. Zynga had a net margin of 3.09% and a return on equity of 1.66%. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS.

ZNGA has been the topic of several analyst reports. Zacks Investment Research downgraded Zynga from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 13th. Credit Suisse Group boosted their target price on Zynga from $3.80 to $4.00 and gave the company an “underperform” rating in a research report on Thursday, February 8th. BidaskClub raised Zynga from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 6th. Jefferies Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Zynga in a research report on Sunday, February 11th. Finally, Consumer Edge initiated coverage on Zynga in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.24.

In other news, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $3.74, for a total transaction of $44,880.00. Following the transaction, the director now owns 247,900 shares of the company’s stock, valued at approximately $927,146. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew S. Bromberg sold 50,000 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $3.95, for a total value of $197,500.00. Following the transaction, the chief operating officer now directly owns 294,206 shares in the company, valued at approximately $1,162,113.70. The disclosure for this sale can be found here. Insiders sold a total of 256,000 shares of company stock worth $1,007,560 in the last ninety days. 12.43% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Zynga by 4.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock worth $274,000 after buying an additional 3,261 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Zynga by 23.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock worth $112,000 after buying an additional 5,815 shares in the last quarter. Bourgeon Capital Management LLC grew its position in shares of Zynga by 147.1% during the 4th quarter. Bourgeon Capital Management LLC now owns 25,200 shares of the company’s stock worth $101,000 after buying an additional 15,000 shares in the last quarter. Sawtooth Solutions LLC grew its position in shares of Zynga by 98.6% during the 4th quarter. Sawtooth Solutions LLC now owns 36,515 shares of the company’s stock worth $146,000 after buying an additional 18,131 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Zynga by 7.6% during the 3rd quarter. Sei Investments Co. now owns 310,209 shares of the company’s stock worth $1,173,000 after buying an additional 22,000 shares in the last quarter. 71.87% of the stock is currently owned by institutional investors and hedge funds.

Zynga (ZNGA) traded up $0.02 during midday trading on Wednesday, hitting $3.59. The stock had a trading volume of 7,045,370 shares, compared to its average volume of 15,850,000. The company has a market cap of $3,130.00, a P/E ratio of 119.67, a P/E/G ratio of 2.62 and a beta of 0.51. Zynga has a 52-week low of $2.62 and a 52-week high of $4.34.

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Zynga Company Profile

Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.

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Earnings History and Estimates for Zynga (NASDAQ:ZNGA)

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