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ZNGA

Zynga

$4.93

(0.00%)

10:30
02/13/19
02/13
10:30
02/13/19
10:30

Size option blocks in Zynga as a bullish position is adjusted

Size option blocks in Zynga as a bullish position is adjusted. The stock off 3c to $4.90 and 35K Sep 4.5 calls trade 80c when bid-ask was 77c to 87c. Then, separately, 20K Sep 3.5 puts trade 10c along with 20K Sep 4 puts at 18c and 39K Sep 5 calls for 57c. The Sep 3.5 puts and Sep 4.5 calls match a ratio risk-reversal from 1/28 when, with shares $4.42, 20K Sep 3.5 puts sold at 23c and 35K Sep 4.5 calls bought for 62c. The Sep 4.5 calls are now 40c in-the-money and liquidated to monetize the profit of 18c per contract, or $630K on the 35K lot, while Sep 3.5 puts were bought-to-close to monetize another 13c per contract, or $260K. Meanwhile, the Sep 4 puts and Sep 5 calls today open a new ratio risk-reversal and the position expresses confidence that the recent rally in shares (which included a 5% earnings move last Thursday) can continue in the months ahead.

ZNGA Zynga
$4.93

(0.00%)

01/28/19
01/28/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Zynga (ZNGA) upgraded to Overweight from Sector Weight at KeyBanc with analyst Evan Wingren saying he likes the tactical setup as margin targets for FY19 have been established, the pipeline of new games is based on high quality IP, and he has confidence in the management team in place given its track record since joining. 2. GrubHub (GRUB) and Wayfair (W) were upgraded to Outperform from Neutral at Credit Suisse. 3. Logitech (LOGI) upgraded to Buy from Neutral at Goldman Sachs with analyst Mohammed Moawalla saying the stock has underperformed the Europe Technology group by 17% in last six months despite "strong management execution and continuing secular growth avenues." 4. Sonos (SONO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Yuuji Anderson saying he has become more confident that new products will drive growth and margin expansion. 5. Synnex (SNX) upgraded to Buy from Neutral at Citi with analyst Tim Yang saying Synnex continues to increase its value-add services exposure, which should support sustainable margin expansion in the next two years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/30/19
GSCO
01/30/19
INITIATION
Target $5.3
GSCO
Buy
Zynga initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Michael Ng started Zynga with a Buy rating and $5.30 price target. The company operates in the fastest-growing gaming platform, mobile, Ng tells investors in a research note. Zynga's core games portfolio is exiting 2018 at a $1B bookings run-rate, which should further benefit from the launch of several new features, adds the analyst. He points out the company is launching nine new games in 2019/2020 based on several popular franchises.
01/30/19
01/30/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. United Continental (UAL) initiated with a Buy at Argus. 2. Amicus (FOLD) initiated with an Overweight at Cantor Fitzgerald. 3. Take-Two (TTWO) and Zynga (ZNGA) were initiated with a Buy at Goldman Sachs, while Electronic Arts (EA) and Activision Blizzard (ATVI) were initiated with a Neutral. 4. Sirius XM (SIRI) resumed with a Buy at B. Riley. 5. National Grid (NGG) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/07/19
PIPR
02/07/19
NO CHANGE
Target $6
PIPR
Overweight
Zynga price target raised to $6 from $5 at Piper Jaffray
Piper Jaffray analyst Michael Olson raised his price target for Zynga to $6 after the company reported Q4 bookings and adjusted EBITDA above consensus. Further, the company's Q1 bookings and adjusted EBITDA guidance also came in ahead of expectations, Olson tells investors in a post-earnings research note. The analyst believes Zynga's pipeline for 2019 may include a new Harry Potter title, Game of Thrones title, new expansion of the Merge! franchise, and either Farmville or Cityville mobile. He maintains an Overweight rating on the shares.

TODAY'S FREE FLY STORIES

CASA

Casa Systems

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MBIN

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HF

HFF Inc.

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SEM

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BIDU

Baidu

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CPB

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$35.44

0.26 (0.74%)

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MGM

MGM Resorts

$28.34

-0.48 (-1.67%)

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CASA

Casa Systems

$11.96

-0.02 (-0.17%)

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BOOM

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WRB

W. R. Berkley

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MGM

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SUNS

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OPNT

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HASI

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BIDU

Baidu

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TGH

Textainer

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Earnings
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SEM

Select Medical

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HASI

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