Zynga (ZNGA) Releases Q1 Earnings Guidance

Zynga (NASDAQ:ZNGA) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ($0.01) for the period, compared to the Thomson Reuters consensus estimate of $0.03. The company issued revenue guidance of $200 million, compared to the consensus revenue estimate of $221.65 million.

Shares of Zynga (ZNGA) traded down $0.05 during trading hours on Thursday, reaching $3.64. The company’s stock had a trading volume of 24,152,478 shares, compared to its average volume of 14,284,646. The firm has a market capitalization of $3,107.84, a price-to-earnings ratio of -184.50, a PEG ratio of 2.62 and a beta of 0.51. Zynga has a 12 month low of $2.40 and a 12 month high of $4.34.

Several equities research analysts have commented on ZNGA shares. Cowen restated a buy rating and set a $4.50 price target on shares of Zynga in a research note on Thursday, October 12th. Wedbush set a $5.00 target price on Zynga and gave the company a buy rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded Zynga from a hold rating to a strong-buy rating and set a $4.50 target price for the company in a research note on Saturday, November 11th. BidaskClub lowered Zynga from a buy rating to a hold rating in a research note on Wednesday, December 6th. Finally, Consumer Edge started coverage on Zynga in a research note on Wednesday, January 3rd. They issued an overweight rating and a $4.50 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Zynga has an average rating of Hold and a consensus price target of $4.19.

In other news, COO Matthew S. Bromberg sold 50,000 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $3.95, for a total transaction of $197,500.00. Following the sale, the chief operating officer now directly owns 294,206 shares in the company, valued at approximately $1,162,113.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $3.97, for a total value of $47,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,000 shares of company stock worth $1,007,560. 12.43% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Zynga stock. The Manufacturers Life Insurance Company lifted its stake in shares of Zynga Inc (NASDAQ:ZNGA) by 23.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,835 shares of the company’s stock after purchasing an additional 5,815 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Zynga were worth $112,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 70.21% 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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