Zynga Inc (NASDAQ:ZNGA), a leading social game developer, today announced it has entered into a multi-year agreement with Warner Bros. Interactive Entertainment to license the iconic brand, Willy Wonka and the Chocolate Factory, for its Social Casino games. As a first step, Zynga will bring this beloved brand to life with a Willy Wonka and the Chocolate Factory-themed social slots game, slated to launch worldwide across mobile and web in 2016.
“We are incredibly excited to deliver our social slots players and Willy Wonka and the Chocolate Factory fans around the world a unique, free-to-play way to engage with one of their favorite brands,” said Joe Kaminkow, Chief Game Designer for Zynga’s social slots. “Willy Wonka and the Chocolate Factory is a brand that is adored by generations of consumers and its fantastical and playful nature makes it a perfect fit for the world of slots. Our team looks forward to delighting slots fans in 2016 with a fun, authentic social slots experience that embodies the imaginative world of Wonka and makes players feel like they’ve won the Golden Ticket.”
Zynga’s Willy Wonka and the Chocolate Factory slots game will marry the whimsical world of Wonka with classic social slots gameplay to create an authentic entertainment experience for consumers. The game is being developed by the team behind Zynga’s Hit It Rich! Slots and Wizard of Oz Slots, both of which are currently Top 10 Grossing Casino games on the Apple App Store. Hit It Rich! Slots, available for free download on the App Store for iPhone, iPad and iPod touch, Google Play, Amazon Kindle Fire HD and Facebook, delivers players new ways to play with a multi-media social slots experience featuring more than 25 of their favorite entertainment brands.
Zynga’s Wizard of Oz Slots, available on the App Store for iPhone, iPad and iPod touch, Google Play and the Amazon App Store for Kindle devices, lets players tag along with DOROTHY™ and friends as they travel through the EMERALD CITY™ in an arcade-style social slots game that encourages progress and competition, while layering in classic movie moments. Zynga’s Wizard of Oz Slots and Hit It Rich! Slots are the only place brands like The Wizard of Oz are available in themed social slots games outside of the slots that are available in real casinos. (Original Source)
Following the news, shares of Zynga are trading at $2.40, down $0.11, 4.38%. ZNGA has a 1-year high of $3.19 and a 1-year low of $2.20. The stock’s 50-day moving average is $2.74 and its 200-day moving average is $2.69.
On the ratings front, Zynga has been the subject of a number of recent research reports. In a report issued on July 28, Wedbush analyst Michael Pachter reiterated a Buy rating on ZNGA, with a price target of $6, which implies an upside of 140.0% from current levels. Separately, on May 14, Sterne Agee CRT’s Arvind Bhatia maintained a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Pachter and Arvind Bhatia have a total average return of -1.0% and 26.7% respectively. Pachter has a success rate of 48.8% and is ranked #3084 out of 3727 analysts, while Bhatia has a success rate of 65.8% and is ranked #79.
Overall, one research analyst has rated the stock with a Sell rating, 5 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $3.06 which is 22.4% above where the stock opened today.
Zynga Inc provides social game services. The Company develops, markets and operates social gamesas live services played on mobile platforms such as iOS and Android and social networking sites such as Facebook.