Analysts Offer Predictions for Zynga Inc’s Q2 2020 Earnings (NASDAQ:ZNGA)

Zynga Inc (NASDAQ:ZNGA) – Stock analysts at SunTrust Banks lifted their Q2 2020 earnings estimates for Zynga in a research report issued on Monday, February 10th. SunTrust Banks analyst M. Thornton now forecasts that the company will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.04. SunTrust Banks has a “Buy” rating and a $7.50 price objective on the stock. SunTrust Banks also issued estimates for Zynga’s Q4 2020 earnings at $0.07 EPS.

A number of other analysts have also recently weighed in on the company. Robert W. Baird reiterated a “buy” rating and issued a $8.00 price target on shares of Zynga in a research report on Thursday, February 6th. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Morgan Stanley reiterated a “buy” rating and issued a $7.75 price target on shares of Zynga in a research report on Monday, February 10th. Piper Sandler upped their price target on Zynga from $7.25 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, ValuEngine upgraded Zynga from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Zynga currently has a consensus rating of “Buy” and a consensus price target of $7.60.

Shares of NASDAQ:ZNGA opened at $6.93 on Thursday. The business’s fifty day moving average price is $6.41 and its two-hundred day moving average price is $6.15. Zynga has a fifty-two week low of $4.94 and a fifty-two week high of $7.03. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 173.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 2.12.

In other news, COO Matthew S. Bromberg sold 12,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.26, for a total transaction of $75,120.00. Following the transaction, the chief operating officer now owns 814,567 shares of the company’s stock, valued at $5,099,189.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey Buckley sold 9,453 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.26, for a total value of $59,175.78. Following the transaction, the chief accounting officer now directly owns 73,337 shares in the company, valued at approximately $459,089.62. The disclosure for this sale can be found here. Insiders have sold 1,198,991 shares of company stock worth $7,804,995 in the last 90 days. Company insiders own 9.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in shares of Zynga by 35.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 25,999,536 shares of the company’s stock valued at $159,117,000 after acquiring an additional 6,749,100 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Zynga by 13,797.5% during the fourth quarter. William Blair Investment Management LLC now owns 22,861,876 shares of the company’s stock valued at $139,915,000 after acquiring an additional 22,697,372 shares during the period. FMR LLC lifted its stake in shares of Zynga by 1.4% during the fourth quarter. FMR LLC now owns 12,488,179 shares of the company’s stock valued at $76,428,000 after acquiring an additional 170,839 shares during the period. State Street Corp lifted its stake in shares of Zynga by 2.6% during the fourth quarter. State Street Corp now owns 12,128,069 shares of the company’s stock valued at $74,224,000 after acquiring an additional 303,008 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Zynga by 1.8% during the third quarter. Millennium Management LLC now owns 11,522,780 shares of the company’s stock valued at $67,062,000 after acquiring an additional 206,129 shares during the period. 77.86% 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 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.

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Earnings History and Estimates for Zynga (NASDAQ:ZNGA)

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