'FarmVille' creator Zynga forecasts lower-than-expected bookings
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February 11, 2016 9:01 AM EST
Wedbush maintained an Outperform rating on Zynga (NASDAQ: ZNGA), and cut the price target to $4.25 (from $5.50), following the company's 4Q. 1Q guidance was below the Streets expectations, as Zynga opted for a slower rollout of its 2016 releases than originally anticipated. Initial guidance shows bookings of $150 165 million and adjusted EBITDA of $(10) 0 million, compared with... More
February 11, 2016 6:51 AM EST
Sterne Agee CRT analyst, Arvind Bhatia, thinks Zynga (NASDAQ: ZNGA) outlook may be improving. Although ZNGAs overall mobile audience declined 5% q/q, the core franchises all saw improvement. With 10 new games expected in 2016 (including 6 currently in soft launch), the pipeline seems improved
ZNGA continues its transition to becoming a mobile... More
