Barclays Lowers Price Target and Estimates on Zynga (ZNGA); Shares Evenly Valued
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Price: $8.18 --0%
Rating Summary:
15 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on Zynga (NASDAQ: ZNGA) price target lowered $1 to $11.
Analyst, Mark May, said, "We've updated our ZNGA model to 1) better reflect the changing mix of monetization sources, including mobile, 2) include the recent OMGPOP acquisition, and 3) update our 1Q12 forecasts for the most recently available AppData. The impact is a 6% increase in our 1Q12 bookings estimate, but a 7% reduction in our CY12 bookings estimate."
FY12 EPS estimate cut from $0.28 to $0.27 and FY13 from $0.39 to $0.35.
Barclays analyst May remains positive on the company (long-term growth opportunities), however, at 18x FY12 EBITDA, shares are evenly valued.
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 $10.04 yesterday.
Analyst, Mark May, said, "We've updated our ZNGA model to 1) better reflect the changing mix of monetization sources, including mobile, 2) include the recent OMGPOP acquisition, and 3) update our 1Q12 forecasts for the most recently available AppData. The impact is a 6% increase in our 1Q12 bookings estimate, but a 7% reduction in our CY12 bookings estimate."
FY12 EPS estimate cut from $0.28 to $0.27 and FY13 from $0.39 to $0.35.
Barclays analyst May remains positive on the company (long-term growth opportunities), however, at 18x FY12 EBITDA, shares are evenly valued.
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 $10.04 yesterday.
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