Why Zynga’s Turnaround Could Come With Almost 50% Upside [MSN Money]
Zynga Inc. - Class A (ZNGA)
Last zynga inc. - class a earnings: 2/5 04:05 pm
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Source: MSN Money
© Thinkstock Zynga (ZNGA) shares made a small gain on Wednesday after Wedbush said that it can see this stock making about a 50% run over the next year and that a turnaround is underway. Load Error The firm issued an Outperform rating on Zynga with a $6 price target, implying an upside of 47% from the most recent closing price of $4.07. On Tuesday, Wedbush hosted investor meetings with Zynga’s CEO Frank Gibeau. The firm ultimately found that Gibeau is pleased with the progress of Zynga’s turnaround thus far, although he sees a long runway ahead for continued improvement. Wedbush said in its report: A combination of cost discipline and innovation, as reflected in the bold beats strategy, is expected to increase the adjusted EBITDA margin to the near- and long-term targets of 20% (at some point in 2018) and 30%. Zynga remains excited about the World Poker Tour content planned for Poker in 2H:18. He (Gibeau) expects the global revenue mix, roughly two-thirds d
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