Baird Maintains a 'Neutral' on Zynga (ZNGA); Solid Performance, Driven Increasingly by Mobile
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Price: $8.18 --0%
Rating Summary:
15 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
Rating Summary:
15 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
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Baird maintains a 'Neutral' on Zynga (NASDAQ: ZNGA) price target lowered from $14 to $13.
Analyst, Colin Sebastian, said, "Zynga reported slightly better-than-expected Q1 results, highlighted by the majority of bookings growth coming from mobile platforms, and some diversification away from Facebook games during Q1. While a higher tax rate limited upside to EPS in the revised outlook, we believe core operational metrics and healthy and we are incrementally positive on Zynga fundamentals."
"We are modestly increasing our 2012 and 2013 bookings estimates for Zynga from $1.42 billion and $1.73 billion to $1.49 billion (+29%) and $1.8 billion (+21%), respectively. We are maintaining our 2012 EPS estimate of $0.26 although lowering our 2013 EPS estimate by $0.03 primarily due to a higher tax rate."
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 $9.42 yesterday.
Analyst, Colin Sebastian, said, "Zynga reported slightly better-than-expected Q1 results, highlighted by the majority of bookings growth coming from mobile platforms, and some diversification away from Facebook games during Q1. While a higher tax rate limited upside to EPS in the revised outlook, we believe core operational metrics and healthy and we are incrementally positive on Zynga fundamentals."
"We are modestly increasing our 2012 and 2013 bookings estimates for Zynga from $1.42 billion and $1.73 billion to $1.49 billion (+29%) and $1.8 billion (+21%), respectively. We are maintaining our 2012 EPS estimate of $0.26 although lowering our 2013 EPS estimate by $0.03 primarily due to a higher tax rate."
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 $9.42 yesterday.
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