National Alliance Capital Downgrades Zynga (ZNGA) to Market Perform; Game Over
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Price: $3.39 -0.29%
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade ZNGA Now!
National Alliance Capital downgraded Zynga (NASDAQ: ZNGA) from Buy to Market Perform with a price target of $4.90 (from $9.24).
Analyst, Mike Hickey, said, "After a fiscal Q2’12 performance miss versus street consensus and a massive fiscal 2H’12 negative performance reset, we anticipate an aggressive early morning valuation flushing over increased growth and credibility concerns...Ultimately, we suspect web gamers are fatigued from the current player experience over Facebook (Nasdaq: FB), necessitating new and/or next-generation games to potentially re-engage a flocking audience. We believe player losses from legacy games are likely not easily resuscitated, a trend likely exaggerate artificially by Facebook’s decision to adjust their platforms game awareness mechanics to new games, suggestive of a faltering relationship with the platform."
Sees FY12 EPS estimate of $0.08, FY13 of $0.20 and FY14 at $0.46
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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Analyst, Mike Hickey, said, "After a fiscal Q2’12 performance miss versus street consensus and a massive fiscal 2H’12 negative performance reset, we anticipate an aggressive early morning valuation flushing over increased growth and credibility concerns...Ultimately, we suspect web gamers are fatigued from the current player experience over Facebook (Nasdaq: FB), necessitating new and/or next-generation games to potentially re-engage a flocking audience. We believe player losses from legacy games are likely not easily resuscitated, a trend likely exaggerate artificially by Facebook’s decision to adjust their platforms game awareness mechanics to new games, suggestive of a faltering relationship with the platform."
Sees FY12 EPS estimate of $0.08, FY13 of $0.20 and FY14 at $0.46
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.
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
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