Hudson Square Research Analysts Initiate Coverage on Zynga (ZNGA)
Posted by LUSA Staff on Dec 19th, 2011
Equities research analysts at Hudson Square Research initiated coverage on shares of Zynga (NASDAQ: ZNGA) in a research note issued to investors on Monday. They set a “buy” rating and a $14.00 price target on the stock.
Separately, analysts at BTIG initiated coverage on shares of Zynga in a research note to investors on Friday. They set a “buy” rating on the stock. Analysts at BTIG Research initiated coverage on shares of Zynga in a research note to investors on Friday. They set a “buy” rating and a $13.00 price target on the stock. Also, analysts at Cowen initiated coverage on shares of Zynga in a research note to investors on Friday. They set a “neutral” rating on the stock.
Zynga lets wannabe mob bosses, farmers, and poker champs get their game on. The company is a leading social game developer with titles such as Mafia Wars, FarmVille, CafÃ© World, and Zynga Poker. It offers the games online for free through social networking sites Facebook, Myspace, and Yahoo!. They can also be downloaded onto Apple’s iPhones and myriad mobile devices based on Google’s Android platform. The company makes money by selling advertising consisting of branded virtual goods, sponsorships, and engagement ads via credit card and PayPal to users within the games. Zynga is owned by CEO Mark Pincus, who founded the company in 2007 and named it after his late dog Zinga. The company filed for an IPO in 2011.
Shares of Zynga traded down 4.21% during mid-day trading on Monday, hitting $9.10. Zynga has a 52 week low of $9.00 and a 52 week high of $11.50. The stock’s 50-day moving average is $9. and its 200-day moving average is $9.. The company has a market cap of $2.553 billion and a price-to-earnings ratio of 146.15.