Home Stocks Why You Need to Pay Attention to Zynga Inc (ZNGA) Stock?

Why You Need to Pay Attention to Zynga Inc (ZNGA) Stock?

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One company that should be on your radar is Zynga Inc. (NASDAQ:ZNGA). The developer of Online Social Games has seen its Zacks Rank surge over the past four weeks, moving from Neutral to its current position as a Strong Buy.

Source: Wikimedia Commons

A key reason for this move has been the positive trend in the earnings estimate revisions picture. For ZNGA’s full year estimate, we have seen 7 estimates go higher in the past 30 days, and there has been no downward revision over the same time frame. This trend has helped the consensus estimate to trend higher, from a loss of 16 cents a share 30 days ago to its current level at 9 cents.

This positive shift in estimates has made some investors take notice and buy the stock. In fact, ZNGA has seen some pretty solid trading lately, as the company has moved higher by 13.1% in the past month.

If Zynga can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put ZNGA on your watch list for the future.

Other top-ranked stocks worth considering in this space include Bally Technologies, Inc. (BYI),Galaxy Entertainment Group Limited (GXYEY) and Melco Crown Entertainment Limited (MPEL). All these carry a Zacks Rank #1 (Strong Buy).

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