Zynga Inc. (NASDAQ:ZNGA) Expected to Announce Quarterly Sales of $736.09 Million

Wall Street analysts forecast that Zynga Inc. (NASDAQ:ZNGAGet Rating) will report $736.09 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Zynga’s earnings. The highest sales estimate is $801.73 million and the lowest is $698.00 million. Zynga posted 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 firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Zynga will report full year sales of $3.02 billion for the current year, with estimates ranging from $2.79 billion to $3.26 billion. For the next financial year, analysts forecast that the business will report sales of $3.20 billion, with estimates ranging from $2.80 billion to $3.40 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Zynga.

A number of research analysts have commented on the stock. BTIG Research cut shares of Zynga from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 19th. StockNews.com assumed coverage on shares of Zynga in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird downgraded shares of Zynga from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $9.00 in a research note on Friday, February 25th. UBS Group decreased their price target on shares of Zynga from $13.50 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 15th. Finally, Benchmark cut shares of Zynga from a “buy” rating to a “hold” rating in a report on Monday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Zynga has a consensus rating of “Hold” and a consensus price target of $10.48.

Large investors have recently bought and sold shares of the company. Elequin Capital LP bought a new stake in shares of Zynga in the 1st quarter valued at approximately $33,000. Quadrant Capital Group LLC raised its holdings in shares of Zynga by 168.3% in the first quarter. Quadrant Capital Group LLC now owns 4,209 shares of the company’s stock worth $39,000 after buying an additional 2,640 shares during the period. Aaron Wealth Advisors LLC purchased a new stake in shares of Zynga in the first quarter worth approximately $543,000. Exane Derivatives purchased a new stake in shares of Zynga in the first quarter worth approximately $47,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Zynga in the first quarter worth approximately $63,000. 77.40% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ZNGA 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-to-equity 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 Rating)

Zynga Inc develops, markets, and operates social game services in the United States and internationally. The company provides social games as live services played on mobile platforms, such as Apple iOS and Google's Android operating systems; social networking platforms, such as Facebook and Snapchat; and personal computers consoles, such as Nintendo's Switch game console, and other platforms and consoles.

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Earnings History and Estimates for Zynga (NASDAQ:ZNGA)

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