Wedbush analyst Michael Pachter maintained a Buy rating on Zynga (NASDAQ: ZNGA) today and set a price target of $6. The company’s shares opened today at $4.20.
According to TipRanks.com, Pachter ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.4% and a 49.9% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, AMC Entertainment, and Pandora Media.
Currently, the analyst consensus on Zynga is Moderate Buy and the average price target is $5, representing a 19.0% upside.
In a report released yesterday, Piper Jaffray also maintained a Buy rating on the stock with a $5 price target.
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Based on Zynga’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $5.61 million. In comparison, last year the company had a GAAP net loss of $9.47 million.
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Zynga, Inc. provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook.
