Wedbush is out defending Zynga (ZNGA -17.7%) in the midst of a rather nasty post-earnings...

Wedbush is out defending Zynga (ZNGA -17.7%) in the midst of a rather nasty post-earnings sell-off triggered by the company's decision not to pursue real money gaming in the U.S. A company-wide review by CEO Don Mattrick "will result in a further streamlining of operations [and] will help the company to better focus on its more immediate revenue opportunities," analyst Michael Pachter says, maintaining an Overweight rating and a $4.25 PT. Meanwhile, Canaccord's Michael Graham is "optimistically cautious" based on Mattrick's willingness to "roll up his sleeves" and the company's "cash cushion." (Previous: Needham removes Buy on ZNGA)

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Comments (6)
  • JeffreyLangBoyd
    , contributor
    Comments (663) | Send Message
    Is this the same analyst that has hated NFLX?
    26 Jul 2013, 11:27 AM Reply Like
  • Archman Investor
    , contributor
    Comments (3320) | Send Message
    This company is not an investment. It is a speculation / trading play. Has been since day one. Anyone who goes into this thinking it is anything but that has a lot to learn.


    I am expecting them to go bankrupt at some point.


    I have no position in the stock.
    26 Jul 2013, 11:30 AM Reply Like
  • webbersworld
    , contributor
    Comments (209) | Send Message
    Takeover target?
    26 Jul 2013, 11:35 AM Reply Like
  • LYogi
    , contributor
    Comments (3115) | Send Message
    a LOT of people are buying the shares south of $3 a piece.


    one would think that the new CEO with his ties to the big boys will angle for a M&A with some type of premium on the SP.
    26 Jul 2013, 11:39 AM Reply Like
  • navillus
    , contributor
    Comments (4) | Send Message
    I would like to know if insiders are buying. It make no sense that after all of the work they put into online gambling that they would just drop it. I am long but not for the same reason I was yesterday.
    26 Jul 2013, 12:45 PM Reply Like
  • tigerpacific
    , contributor
    Comments (7) | Send Message
    Turnaround stocks always look scary and ugly at the bottom. I am willing to give new CEO the benefit of the doubt. Let's look back in two years and see what happened then.
    26 Jul 2013, 12:45 PM Reply Like
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