Zynga (ZNGA) Platform Could Make Competitors Potential Customers -Piper Jaffray

Traders are continuing to buy shares of Zynga (Nasdaq: ZNGA) Friday morning following news of a new gaming platform which will be separate from Facebook (FB) and the resulting 10 percent surge in the stock. Zynga shares last traded at $15.44, up 6.6 percent from Thursday's close.

Comments from Piper Jaffray's Michael Olson might be adding to upside this morning. The analyst suggests the Zynga news could eventually alter the company's growth as game developers would be potential customers, not competitors.

"Zynga.com service is analogous to Amazon Web Services and Fulfillment by Amazon as it opens Zynga’s existing technology infrastructure to third parties," according to Olson.

Piper Jaffray currently rates Zynga an Overweight; the firm maintains a $16.50 price target.

Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Zynga.

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