Zynga (ZNGA) Earnings Could Get Traction in Q2

April 3, 2013 1:12 PM EDT
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Price: $2.60 --0%

Rating Summary:
    8 Buy, 19 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
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Shares of Zynga (Nasdaq: ZNGA) are significantly higher since January 1st, in part because of anticipation about will real-money gaming in the U.S. Zynga is also the subject of takeover speculation. Today it is set to launched real money gaming in the UK.

"While we won't comment on takeover speculation, we do find it encouraging that ZNGA is set to launch its first two RMG games as on-line downloads in the very near future, and is expected to roll them out more broadly as the year progresses," said Needham analyst Sean McGowan.

"In addition, we are encouraged that the company's recently released game 'What's The Phrase' seems to be a clear hit with consumers, topping the charts of most popular mobile games," added the analyst.

McGowan expects weakness in Zynga's Q1 results but he thinks launches of RMGs and 'What's The Phrase' could help boost Q1 and Q2 results.

Needham & Company has a Buy rating on Zynga with a price target of $4.00.

For an analyst ratings summary and ratings history on Zynga (NASDAQ: ZNGA) click here. For more ratings news on Zynga click here.

Shares of Zynga closed at $3.07 yesterday.

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