ZNGA Eyes Nearly 9-Year High on Upbeat 2021 Forecast

No fewer than seven analysts issued price-target hikes

Digital Content Manager
Feb 11, 2021 at 9:23 AM
facebook X logo linkedin


The shares of Zynga Inc (NASDAQ:ZNGA) are up 4.6% at $11.67 in early morning trading, after the mobile gaming company shared an upbeat 2021 net bookings outlook, which topped estimates. The company cited its upcoming "FarmVille" game and continued strength for its "Harry Potter: Puzzles & Spells" title, among others. In response, no fewer than nine analysts issued price-target hikes, the highest coming from Wedbush to $15. 

This surge puts ZNGA on track to open at its highest level in nearly nine years, as well as its biggest one-day pop since December. This will mark the equity's fourth consecutive intraday high. Year-over-year, ZNGA is up over 66%. 

Coming into today, the brokerage bunch was already resoundingly optimistic. Of the 17 in coverage, 15 called ZNGA a "buy" or better. The 12-month consensus price target of $12.25, meanwhile, stood at a 5.3% premium to last night's close. 

Option traders have also been overwhelmingly bullish. In fact, 20 calls have been picked up for every put during the past 10 weeks at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than 93% of readings from the past 12 months, suggesting this extreme penchant for calls is unusual. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI