Zynga, Inc. (NASDAQ: ZNGA) has now seen its quiet period end after its December IPO. Shares were up big yesterday after Robert W. Baird’s research team jumped in ahead of the underwriting group with a new equivalent of a BUY rating. This one is still trading as a busted-IPO with shares trading under the $10.00 per share price even after a gain of 6.4% on Tuesday and the cumulative gain since the $8.00 close on January 9 has been 21% from the lowest close of this year.
Here are the analyst initiations we have seen so far from the underwriting firms this Wednesday:
Started as Overweight with $11 price target at Barclays;
Started as Neutral with $10.50 price target at Bank of America Merrill Lynch;
Started as Buy with $13 price target at Goldman Sachs;
Started as Overweight with $12 target at JPMorgan;
Started as Overweight with $11 price target at Piper Jaffray.
After we added up these five (not counting the few non-underwriting analyst calls out there) we get a consensus price target objective of about $11.50 for Zynga.
JON C. OGG
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.