![]() ![]() Despite his positive view on the company's role in online gaming, a lot more evidence needs to come forward that the company can thrive in this category: The company's platform transition could extend well into 2013, requiring the ongoing realignment of resources and alterations to product development While we see limited downside from here (ZNGA has $2/share in cash as well as significant real estate investments), and mobile and social gaming continues to grow, the extreme lack of visibility point us to the sidelines.Ĭitigroup's Neil Doshi reiterates a Neutral rating on the stock, observing that it now trades close to the $2 per share in cash it has. Baird's Colin Sebastian cutting his rating on the stock to Neutral from Outperform, and cutting his price target to $3 from $6, warning that things may get worse before they get better: The Street is fairly unforgiving of Zynga today, with R.W. Shares of Zynga are down 51 cents, or 18%, at $2.31, while Facebook is off 50 cents, or 2.3%, at $21.44.Īnalysts today pointed to push-outs of new game titles, and a certain decline in the traditional Facebook games such as " FarmVille" that established Zynga.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |