Jefferies Keeps Hold on Zynga (ZNGA) Despite Solid Q4 'Beat'; PT to $3

February 6, 2013 11:30 AM EST Send to a Friend
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Price: $2.81 +4.07%

Rating Summary:
    5 Buy, 20 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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Jefferies raised its price on Zynga (NASDAQ: ZNGA) from $2.50 to $3.00 following a solid Q4 beat after the close, but is keeping its Hold rating.

The firm comments, "It was a nice beat but we reaffirm our Hold as we remain on the sidelines until we see evidence of real momentum. We are encouraged ZNGA issued (Oct. 24), reaffirmed (Nov. 13), then beat guidance. But mgmt expects continued bookings declines (-38% Y/Y at midpoint of guide) in 1Q, and visibility beyond that is very low. In 1H'13, ZNGA launches real-money gaming in the UK, prepping for potential legalization of online poker in the US."

FY13 EPS goes down from $0.03 to ($0.01) and FY13 from $0.05 to ($0.04).

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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