Jefferies Starts Zynga (ZNGA) at Hold; Several Risks

Jefferies initiates coverage on Zynga (NASDAQ: ZNGA) with a Hold. PT $3.00.

Jefferies analyst said, "Zynga is a leader in the domestic casual gaming market with over 300MM users playing its free-to-play games like FarmVille. As it diversifies away from Facebook, Zynga is prioritizing mobile platforms, where it faces significantly more competition. With users churning through games with ever increasing frequency, ZNGA must reacquire them on an ongoing basis. We see several risks."

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 $2.83 yesterday.

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