Zynga Inc (NASDAQ: ZNGA) is well positioned to drive bookings growth of 13% and adjusted EBITDA growth of 18% from 2020 through 2023, according to MKM Partners.The Zynga Analyst: Eric Handler initiated coverage of Zynga with a Buy rating and a price target of $12.The Zynga Thesis: The company has a leadership position in the mobile games space, which is the fastest growing segment in the videogames industry, Handler said.He mentioned that Zynga's growth going ahead is likely to be propelled by a combination of three factors: * Organic growth * Integration of its recent acquisition of Peak Games and the pending deal for Rollic Games * Steady margin expansion"In addition, with its strong FCF conversion and a sizable amount of debt capacity, Zynga has the ability to remain very active with M&A. Plus, we see call option value on management's ability to expand into new segments and platforms within mobile gaming and increase its international presence," the analyst wrote in a note.Latest Ratings for ZNGA DateFirmActionFromTo Sep 2020MKM PartnersInitiates Coverage OnBuy Aug 2020Wells FargoMaintainsEqual-Weight Aug 2020Piper SandlerMaintainsOverweight View More Analyst Ratings for ZNGA View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Goldman Sachs Gives Glu Mobile A Bullish Rating On New Game Pipeline(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Zynga (ZNGA) closed the most recent trading day at $9.12, moving +0.55% from the previous trading session.