Zynga (ZNGA) Releases Q2 Earnings Guidance

Zynga (NASDAQ: ZNGA) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of ($0.04)-(0.03) for the period, compared to the Thomson Reuters consensus estimate of ($0.03), Stock Ratings Network reports. The company issued revenue guidance of $225-235 million, compared to the consensus revenue estimate of $232.63 million.

A number of research firms have also recently commented on ZNGA. Analysts at TheStreet reiterated a hold rating on shares of Zynga in a research note to investors on Tuesday, May 28th. On a related note, analysts at Piper Jaffray reiterated a neutral rating on shares of Zynga in a research note to investors on Tuesday, May 21st. They now have a $3.50 price target on the stock, up previously from $3.40.

Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $3.74.

Shares of Zynga (NASDAQ: ZNGA) traded down 12.03% during mid-day trading on Monday, hitting $2.991. Zynga has a one year low of $2.09 and a one year high of $9.54. The stock’s 50-day moving average is currently $3.4. The company’s market cap is $2.374 billion.

Zynga (NASDAQ: ZNGA) last announced its earnings results on Wednesday, April 24th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.05. The company had revenue of $263.60 million for the quarter, compared to the consensus estimate of $222.87 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was down 17.9% on a year-over-year basis. On average, analysts predict that Zynga will post $-0.04 earnings per share for the current fiscal year.

Zynga Inc. (NASDAQ: ZNGA), is a provider of social game services with 240 million average monthly active users over 175 countries.

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