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Zynga (ZNGA) closed the most recent trading day at $7.46, moving +1.08% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.48%.
Heading into today, shares of the maker of "FarmVille" and other online games had lost 3.53% over the past month, lagging the Consumer Discretionary sector's loss of 0.25% and the S&P 500's gain of 3.46% in that time.
Wall Street will be looking for positivity from ZNGA as it approaches its next earnings report date. This is expected to be November 8, 2021. On that day, ZNGA is projected to report earnings of $0.06 per share, which would represent year-over-year growth of 300%. Our most recent consensus estimate is calling for quarterly revenue of $664.28 million, up 5.78% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.36 per share and revenue of $2.82 billion, which would represent changes of +414.29% and +24.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ZNGA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ZNGA is currently a Zacks Rank #5 (Strong Sell).
In terms of valuation, ZNGA is currently trading at a Forward P/E ratio of 20.59. This represents a discount compared to its industry's average Forward P/E of 23.18.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Zynga Inc. (ZNGA) : Free Stock Analysis Report
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