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Fly News Breaks for June 21, 2016
ZNGA, ATVI, GLUU
Jun 21, 2016 | 11:09 EDT
Piper Jaffray analyst Michael Olson said his analysis of iOS app rankings in Q2 suggests Glu Mobile's (GLUU) Kendall & Kylie game dropped in the rankings after a brief time among the top 20 last quarter, but that its number of titles ranked in the top 200 during Q2 increased modestly to 5.7 from 4.9 last quarter. The analyst, who thinks the company had relatively conservative assumptions for all titles in Q2, thinks the data suggest a mixed Q2 for Glu and keeps an Overweight rating $3.50 price target on the shares. In separate notes to investors, Olson also indicated that the average rank of top 5 titles of Activision's (ATVI) King Digital unit have not changed significantly from Q1 to Q2 and that number of Zynga (ZNGA) games ranked in the top 20 was down only modestly quarter-over-quarter. The firm has a Neutral rating on Zynga and an Overweight rating on Activision Blizzard.
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