Canaccord Genuity Maintains a 'Hold' on Zynga (ZNGA); Mobile Scenario Uncertain; Cutting Estimates & PT
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Price: $3.38 +0.30%
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ZNGA Now!
Canaccord Genuity maintains a 'Hold' on Zynga (NASDAQ: ZNGA) price target lowered from $15 to $13.
Analyst, Michael Graham, said, "Although Zynga’s Q1 results beat expectations, we believe bookings from the company’s core web-based games may be slowing faster than expected. Although we believe the company’s aggressive mobile growth strategy will pay off in the long-run, we believe it entails risk and uncertainty, which keeps us on the sidelines."
To elaborate on Zynga and the mobile platform, Graham, said he thinks the company will have to continue to make acquisitions in the space to grow opportunities. Graham also thinks mobile monetization is quite aways off, therefore medium-term growth seems uncertain.
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 $9.42 yesterday, with a 52 week range of $7.97-$15.91.
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Analyst, Michael Graham, said, "Although Zynga’s Q1 results beat expectations, we believe bookings from the company’s core web-based games may be slowing faster than expected. Although we believe the company’s aggressive mobile growth strategy will pay off in the long-run, we believe it entails risk and uncertainty, which keeps us on the sidelines."
To elaborate on Zynga and the mobile platform, Graham, said he thinks the company will have to continue to make acquisitions in the space to grow opportunities. Graham also thinks mobile monetization is quite aways off, therefore medium-term growth seems uncertain.
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 $9.42 yesterday, with a 52 week range of $7.97-$15.91.
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