- Analysts lowered price targets on Zynga Inc (NASDAQ:ZNGA) following Q3 results.
- Barclays analyst Mario Lu lowered the PT to $10 from $12, implying a 33% upside, and affirmed an Overweight.
- The fiscal 2021 booking guidance of $2.8 billion and EBITDA of $650 million remained unchanged despite the inclusion of StarLark in Q4, which the analyst estimates will contribute $20 million in bookings.
- Baird analyst Colin Sebastian lowered the PT to $10 from $14 and reiterated an Outperform.
- The analyst believes monetization trends overall are trending a little better than feared.
- He said while core game performance remains mixed, Q3 results overall were slightly ahead of consensus expectations, with IDFA issues having less impact on revenues than management initially expected.
- Price Action: ZNGA shares traded higher by 8.44% at $7.58 on the last check Tuesday.
Analysts Adjust Zynga Price Target Post Q3 Results
Analysts lowered price targets on Zynga Inc (NASDAQ:ZNGA) following Q3 results. Barclays analyst Mario Lu lowered the PT to $10 from $12, implying a…
