Canaccord Genuity Maintains a 'Hold' on Zynga (ZNGA); Cutting PT as Profitable Legacy Game User Declined

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Canaccord Genuity maintains a 'Hold' on Zynga (NASDAQ: ZNGA) price target of $6.00 (from $13.00).

Analyst, Michael Graham, said, "Zynga reported very weak Q2 results across most metrics, driven by steep declines in the most profitable users that were partially offset by gains in less profitable users. We have lowered our estimates to the low end of management guidance, and we note significant uncertainty to our forecast."

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 $5.08 yesterday, with a 52 week range of $4.45-$15.91.

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