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Fly News Breaks for September 10, 2018
Sep 10, 2018 | 05:29 EDT
Piper Jaffray analyst Michael Olson says he remains positive on of Zynga despite the stock's underperformance year-to-date. The reason for the underperformance is that, despite the company providing more consistent revenue growth and margin expansion, investors need to see a pipeline of new titles to drive the stock higher, Olson tells investors in a research note. Zynga in the coming months will provide more clarity on the 2019 pipeline, which will "check a box" that many investors have felt is missing from the story, the analyst adds. He expects the company will launch up to four new titles by the end of 2019 and keeps an Overweight rating on Zynga with a $5 price target.
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