Zynga Inc Medium And Long Term “Constructive”

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Zynga Inc Medium And Long Term “Constructive”

Zynga Inc (NASDAQ:ZNGA) is making a substantial effort to rebound from its current lows by executing its turnaround strategy on all fronts. UBS analysts Eric J. Sheridan, Vishal J. Patel and Timothy E. Chiodo, in a report dated June 10th, “remain constructive over both the medium & longer term.” The conclusion is based on a dinner conversation at E3 with Zynga CFO David Lee.

Booking guidance achievable

During the first quarter earnings report release, Zynga Inc (NASDAQ:ZNGA) anticipated second quarter bookings to be somewhere between $175-$195 million and analysts believe the form can comfortably achieve the target. Poker has achieved an average daily rank of #22 among the top grossing U.S. iPhone apps compared to 21st in the first quarter. On Android, the game has a ranking of 31 compared to 35 in the first quarter, indicating a stable position quarter over quarter.

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