Zynga (ZNGA) Hits Fresh Post-IPO Lows
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Recent IPO Zynga (Nasdaq: ZNGA) looks like death on a stick.
The social gaming company is down 8 percent today to $8.09 and down 19 percent from its December 16 IPO price of $10. These are fresh lows. The stock reached a high of $11.50 following its debut, but it's been all down hill since then.
An important upcoming date for Zynga will be the 1/25/12 quiet period expiration. This is when underwriters are free to start coverage and talking up the stock. There are loads of them including: Morgan Stanley, Goldman Sachs, BofA/Merrill Lynch, Barclays, JPMorgan, and Allen & Co.
So far the analysts covering the stock have been Neutral, according to data at StreetInsider.com's Ratings Insider. The overall rating is "Neutral" with 3 Buy ratings, 3 Neutrals and 1 Sell. On a positive note, the average price target of $10.90 on ZNGA offers 35.7 percent upside.
The social gaming company is down 8 percent today to $8.09 and down 19 percent from its December 16 IPO price of $10. These are fresh lows. The stock reached a high of $11.50 following its debut, but it's been all down hill since then.
An important upcoming date for Zynga will be the 1/25/12 quiet period expiration. This is when underwriters are free to start coverage and talking up the stock. There are loads of them including: Morgan Stanley, Goldman Sachs, BofA/Merrill Lynch, Barclays, JPMorgan, and Allen & Co.
So far the analysts covering the stock have been Neutral, according to data at StreetInsider.com's Ratings Insider. The overall rating is "Neutral" with 3 Buy ratings, 3 Neutrals and 1 Sell. On a positive note, the average price target of $10.90 on ZNGA offers 35.7 percent upside.
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