Baird Upgrades Zynga (ZNGA) to Outperform
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Price: $3.39 --0%
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 12
Rating Summary:
3 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 12
Trade ZNGA Now!
Baird upgraded Zynga (NASDAQ: ZNGA) from Neutral to Outperform with a price target of $13.00, saying risk/reward is more compelling.
The firm notes that since the beginning of 2012 and Q2, ZNGA shares have declined -37.6% and -54.3%, vs. S&P500 +5.4% and -6.4%, respectively. Shares have now priced in including slowing growth in social games, lock-up expirations, and usage declines in key game franchises, the firm said.
"Despite the prospect for mixed Q2 results, we see positive catalysts ahead with a more favorable risk/reward scenario, supporting an upgrade to Outperform," analyst Colin Sebastian states.
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 $5.87 yesterday, with a 52 week range of $5.81-$15.91.
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The firm notes that since the beginning of 2012 and Q2, ZNGA shares have declined -37.6% and -54.3%, vs. S&P500 +5.4% and -6.4%, respectively. Shares have now priced in including slowing growth in social games, lock-up expirations, and usage declines in key game franchises, the firm said.
"Despite the prospect for mixed Q2 results, we see positive catalysts ahead with a more favorable risk/reward scenario, supporting an upgrade to Outperform," analyst Colin Sebastian states.
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 $5.87 yesterday, with a 52 week range of $5.81-$15.91.
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Robert W Baird, Standard & Poor'sComments
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How much does Baird get paid for this?
R. U. Serious on Jul 26, 2012 03:04 PMMark as Spam | Reply to this comment
They're sticking with an "outperform" rating? Does R.W. Baird get paid for these positive outlooks?