Zynga Inc (NASDAQ:ZNGA) to Post Q1 2021 Earnings of $0.06 Per Share, KeyCorp Forecasts

Zynga Inc (NASDAQ:ZNGA) – Analysts at KeyCorp issued their Q1 2021 EPS estimates for shares of Zynga in a research report issued to clients and investors on Tuesday, January 14th. KeyCorp analyst T. Parker forecasts that the company will post earnings of $0.06 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $8.50 price target on the stock. KeyCorp also issued estimates for Zynga’s Q2 2021 earnings at $0.05 EPS and Q3 2021 earnings at $0.06 EPS.

A number of other analysts also recently issued reports on the stock. SunTrust Banks started coverage on shares of Zynga in a research report on Monday, January 6th. They set a “buy” rating and a $7.50 target price for the company. BidaskClub raised shares of Zynga from a “strong sell” rating to a “sell” rating in a research report on Friday, January 10th. Zacks Investment Research downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. ValuEngine downgraded shares of Zynga from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Barclays set a $6.00 target price on shares of Zynga and gave the stock a “hold” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Zynga currently has an average rating of “Buy” and an average target price of $7.36.

ZNGA traded down $0.12 on Friday, reaching $6.69. 6,257,328 shares of the company’s stock were exchanged, compared to its average volume of 16,435,961. The company’s 50 day moving average is $6.32 and its 200-day moving average is $6.13. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 334.25, a PEG ratio of 2.73 and a beta of 0.29. Zynga has a twelve month low of $4.21 and a twelve month high of $6.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.12 and a current ratio of 2.12.

Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.05. The firm had revenue of $345.29 million during the quarter, compared to the consensus estimate of $330.56 million. Zynga had a net margin of 3.94% and a negative return on equity of 11.86%. The company’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in ZNGA. Invesco Ltd. grew its stake in Zynga by 592.1% in the second quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock valued at $118,283,000 after acquiring an additional 16,507,732 shares during the period. Scout Investments Inc. purchased a new stake in shares of Zynga during the third quarter worth about $40,665,000. Nuveen Asset Management LLC boosted its holdings in shares of Zynga by 118.7% during the second quarter. Nuveen Asset Management LLC now owns 10,830,278 shares of the company’s stock worth $66,390,000 after purchasing an additional 5,878,684 shares during the period. First Trust Advisors LP boosted its holdings in shares of Zynga by 535.4% during the third quarter. First Trust Advisors LP now owns 5,814,630 shares of the company’s stock worth $33,841,000 after purchasing an additional 4,899,507 shares during the period. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Zynga during the third quarter worth about $27,923,000. Hedge funds and other institutional investors own 77.40% of the company’s stock.

In other news, insider Phuong Y. Phillips sold 12,090 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $6.29, for a total transaction of $76,046.10. Following the completion of the transaction, the insider now directly owns 207,649 shares in the company, valued at approximately $1,306,112.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Gerard Griffin sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $6.52, for a total value of $6,520,000.00. Following the transaction, the chief financial officer now owns 1,536,316 shares of the company’s stock, valued at $10,016,780.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,191,292 shares of company stock valued at $14,006,261. 9.40% of the stock is owned by company insiders.

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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