Bullish Zynga (ZNGA) Analyst Sees Improving Usage Amid New 'Match Three' Games
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Price: $3.39 --0%
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ZNGA Now!
Shares of Zynga (Nasdaq: ZNGA) are up more than 3 percent in Friday's pre-open session as Lazard Capital's Atul Bagga made some reassuring comments earlier.
Related to recent investor worries of slowing usage for Zynga games, Bagga believes the company's new match three games like "Ruby Blast" and "Bubble Safari" will be near-term hits. The analyst believes monetization of these games will be lower than a number of other Zynga games, however, noted costs to acquire users of such games will also be lower. Bagga sees Zynga effectively cross-promoting users of "Ruby Blast" and "Bubble Safari" etc. to higher-monetizing games.
The Lazard analyst maintains a Buy rating and $16 price target on shares of Zynga. With the stock trading at just $5.88 this morning, Bagga's price target represents potential upside of more than 170 percent.
To track all the market-moving analyst action on shares of Zynga, visit our Analyst Ratings page.
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Related to recent investor worries of slowing usage for Zynga games, Bagga believes the company's new match three games like "Ruby Blast" and "Bubble Safari" will be near-term hits. The analyst believes monetization of these games will be lower than a number of other Zynga games, however, noted costs to acquire users of such games will also be lower. Bagga sees Zynga effectively cross-promoting users of "Ruby Blast" and "Bubble Safari" etc. to higher-monetizing games.
The Lazard analyst maintains a Buy rating and $16 price target on shares of Zynga. With the stock trading at just $5.88 this morning, Bagga's price target represents potential upside of more than 170 percent.
To track all the market-moving analyst action on shares of Zynga, visit our Analyst Ratings page.
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