Baird Remains Sidelined on Zynga (ZNGA) Following Solid 3Q

November 3, 2016 7:01 AM EDT
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Price: $2.60 -1.52%

Rating Summary:
    8 Buy, 19 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Baird reiterated a Neutral rating and $3.00 price target on Zynga (NASDAQ: ZNGA) following the company's 3Q earnings report. Bookings of $196.7M were above the consensus of $189M and guidance of $180-190M, driven by Words with Friends and Zynga Poker, and improving CSR monetization. Q4 bookings guidance of $185-195 million were below consensus estimates of $201.4 million.

Analyst Colin Sebastian commented, "Zynga reported better-than-expected Q3 results, driven by improving monetization of CSR2, coupled with continued strength in Words With Friends and Zynga Poker. DAUs increased +3% Q/Q, while monetization trends improved both sequentially and on a Y/Y basis. Despite positive trends in Q3, we note that Q4 guidance appears soft due to the minimal impact from Dawn of the Titans and a Y/Y decrease in advertising bookings. Maintain Neutral."

For an analyst ratings summary and ratings history on Zynga click here. For more ratings news on Zynga click here.

Shares of Zynga closed at $2.74 yesterday.

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