Zynga Inc (ZNGA) Forecasted to Earn Q1 2018 Earnings of $0.00 Per Share
Zynga Inc (NASDAQ:ZNGA) – Research analysts at Wedbush issued their Q1 2018 EPS estimates for shares of Zynga in a report issued on Thursday. Wedbush analyst M. Pachter expects that the company will post earnings per share of $0.00 for the quarter. Wedbush currently has a “Buy” rating and a $6.00 target price on the stock. Wedbush also issued estimates for Zynga’s Q2 2018 earnings at $0.00 EPS, Q3 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.02 EPS and FY2018 earnings at $0.05 EPS.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “strong-buy” rating and set a $4.50 price target for the company in a research report on Saturday, November 11th. BidaskClub downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Consumer Edge initiated coverage on shares of Zynga in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 price target for the company. KeyCorp restated a “hold” rating on shares of Zynga in a research report on Tuesday, October 17th. Finally, Jefferies Group restated a “buy” rating and issued a $5.00 price target on shares of Zynga in a research report on Sunday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.19.
Zynga (NASDAQ:ZNGA) last released its earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $233.30 million for the quarter, compared to analyst estimates of $218.64 million. Zynga had a net margin of 3.09% and a return on equity of 1.66%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share.
A number of institutional investors have recently added to or reduced their stakes in ZNGA. Vanguard Group Inc. increased its stake in shares of Zynga by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 60,801,279 shares of the company’s stock worth $221,316,000 after purchasing an additional 164,384 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Zynga by 111.8% during the 4th quarter. OppenheimerFunds Inc. now owns 20,071,799 shares of the company’s stock worth $80,287,000 after purchasing an additional 10,596,901 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Zynga by 17.1% during the 4th quarter. First Trust Advisors LP now owns 15,438,848 shares of the company’s stock worth $61,755,000 after purchasing an additional 2,250,446 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Zynga by 40.7% during the 4th quarter. American Century Companies Inc. now owns 13,040,309 shares of the company’s stock worth $52,161,000 after purchasing an additional 3,774,156 shares during the last quarter. Finally, River & Mercantile Asset Management LLP increased its stake in shares of Zynga by 126.3% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 7,707,049 shares of the company’s stock worth $29,171,000 after purchasing an additional 4,301,645 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.
In other Zynga news, COO Matthew S. Bromberg sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $3.92, for a total value of $78,400.00. Following the transaction, the chief operating officer now owns 274,206 shares in the company, valued at approximately $1,074,887.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bernard Jin Kim sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $3.94, for a total transaction of $197,000.00. Following the completion of the transaction, the insider now owns 349,450 shares in the company, valued at approximately $1,376,833. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,000 shares of company stock worth $1,007,560. Company insiders own 12.43% of the company’s stock.
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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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