Baird Downgrades Zynga (ZNGA) to Neutral On Valuation after Q4 Results
Tweet Send to a Friend
Get Alerts ZNGA Hot Sheet
Price: $2.89 --0%
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade ZNGA Now!
Baird downgraded Zynga (NASDAQ: ZNGA) from Outperform to Neutral with a price target of $13 (up from $12) on valuation following solid Q4 results.
Analyst Sebastian Colin comments, "Following a solid first quarter out of the gate, we believe it is prudent to move to the sidelines with shares up nicely since our initiation on 1/24. While we maintain a positive bias, a second-half weighted release schedule, some potential issues with unique payer trends on Facebook, and overhangs such as the lockup period could limit appreciation in the near term."
The firm cut FY12 EPS from $0.37 to $0.26.
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 $14.35 yesterday, with a 52 week range of $7.97-$14.55.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst Sebastian Colin comments, "Following a solid first quarter out of the gate, we believe it is prudent to move to the sidelines with shares up nicely since our initiation on 1/24. While we maintain a positive bias, a second-half weighted release schedule, some potential issues with unique payer trends on Facebook, and overhangs such as the lockup period could limit appreciation in the near term."
The firm cut FY12 EPS from $0.37 to $0.26.
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 $14.35 yesterday, with a 52 week range of $7.97-$14.55.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Goldman Sachs Removes Williams Companies (WMB) from CL Buy List; Downgrades Williams Partners (WPZ) to Neutral
- Deutsche Bank Starts Quintiles (Q) at Buy
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades, Hot DowngradesRelated Entities
Robert W Baird
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
