Zynga (NASDAQ:ZNGA) posted its earnings results on Monday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03), Fidelity Earnings reports. Zynga had a positive return on equity of 0.71% and a negative net margin of 6.76%. The firm had revenue of $704.70 million during the quarter, compared to the consensus estimate of $658.88 million. During the same quarter last year, the company posted ($0.06) EPS. Zynga’s revenue for the quarter was up 40.0% on a year-over-year basis. Zynga updated its Q4 2021 guidance to $-0.050-$-0.050 EPS and its FY 2021 guidance to $-0.090-$-0.090 EPS.
Shares of Zynga stock traded up $0.60 during midday trading on Tuesday, reaching $7.59. 2,572,090 shares of the company’s stock traded hands, compared to its average volume of 17,212,508. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $8.26 billion, a price-to-earnings ratio of -47.44 and a beta of 0.09. Zynga has a 52 week low of $6.75 and a 52 week high of $12.32. The company’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $9.29.
Several research analysts have commented on ZNGA shares. Robert W. Baird decreased their target price on shares of Zynga from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday. Cowen decreased their target price on shares of Zynga from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, August 6th. Morgan Stanley decreased their target price on shares of Zynga from $14.00 to $12.75 and set an “overweight” rating for the company in a research report on Friday, August 6th. Barclays reduced their price target on shares of Zynga from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, KeyCorp reduced their price target on shares of Zynga from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 8th. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $11.81.
In other Zynga news, Director Ellen F. Siminoff sold 5,000 shares of the business’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $8.18, for a total value of $40,900.00. Following the completion of the sale, the director now owns 24,204 shares of the company’s stock, valued at $197,988.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James Gerard Griffin sold 52,636 shares of the business’s stock in a transaction dated Thursday, October 21st. The stock was sold at an average price of $8.00, for a total value of $421,088.00. The disclosure for this sale can be found here. Insiders sold 137,137 shares of company stock valued at $1,075,014 in the last ninety days. Insiders own 8.30% of the company’s stock.
About Zynga
Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems with Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.