Baird Sees Risk to Zynga (ZNGA) Qtr Revenue, But Positive Longer-Term
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Price: $8.18 --0%
Rating Summary:
15 Buy, 18 Hold, 1 Sell
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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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Baird commented on Zynga (NASDAQ: ZNGA) following Facebook's updated IPO filing showing that Zynga contributed 11% of revenues in Q1 versus 12% in Q4. They see some added risk to Zynga's Facebook revenues based on the numbers.
Analyst Colin Sebastian estimates net bookings to Zynga of $230 million from virtual good transactions on Facebook. They see another $65 million in advertising bookings and from transactions on other platforms. This suggests total net bookings closer to $300 million which is below estimate of $320 million. They warn, however, that there are multiple unknown variables still.
Regardless of this quarter, the firm notes Zynga's games continue to dominate the charts for Facebook, with eight of the top 10 game apps in terms of DAUs (daily average users).
"Longer term, we still see Zynga as well positioned in the social and mobile game markets, and at this point see less risk to the full-year guidance range," Sebastian commented.
The firm maintained their Neutral rating and $14 price target.
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 $9.00 yesterday.
Analyst Colin Sebastian estimates net bookings to Zynga of $230 million from virtual good transactions on Facebook. They see another $65 million in advertising bookings and from transactions on other platforms. This suggests total net bookings closer to $300 million which is below estimate of $320 million. They warn, however, that there are multiple unknown variables still.
Regardless of this quarter, the firm notes Zynga's games continue to dominate the charts for Facebook, with eight of the top 10 game apps in terms of DAUs (daily average users).
"Longer term, we still see Zynga as well positioned in the social and mobile game markets, and at this point see less risk to the full-year guidance range," Sebastian commented.
The firm maintained their Neutral rating and $14 price target.
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 $9.00 yesterday.
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