- Arguing the company's mobile growth is now offsetting PC/Facebook gaming weakness, Jefferies' Brian Pitz has upgraded Zynga (NASDAQ:ZNGA) to Buy, and set a $4.50 target.
- Pitz calls New Words With Friends (launched in October) a "legitimate hit" - App Annie ranks it #6 on its U.S. iPhone app download chart - and expects the game (monetized via ads) to "benefit from strong seasonal trends around holiday ad prices, and strong demand for video ads."
- He also likes Zynga's 2015 mobile game pipeline, which includes Tiger Woods Golf and new titles from NaturalMotion.
- Needham upgraded Zynga on Friday following its Q3 bookings beat. The company's mobile bookings (lifted by NaturalMotion) rose 111% Y/Y in Q3, and made up 55% of total bookings.
Zynga +6.5% on Jefferies upgrade
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Symbol | Last Price | % Chg |
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TTWO | - | - |
Take-Two Interactive Software, Inc. |