Brian Fitzgerald of Wells Fargo identified the significant advantage in acquiring the Zynga stock. This top Wall Street analyst rated the social game developer’s stock a “Buy” and assigned it a price target of US$13.
We want to share this US stock market-related report with our readers. We believe it can provide them with significant insights regarding the companies identified by the top Wall Street analysts as worth keeping for the long term.
Fitzgerald is the Managing Director and senior equity research analyst at Wells Fargo Securities. He wrote that Zynga had prioritized the creation of gameplay modes and new content.
The Wells Fargo analyst cited that this strategy of the San Francisco, California-headquartered social game developer is anticipated to raise the company back to its previous days of relevance in mobile gaming and drive user retention and acquisition.
Fitzgerald, who is presently calculated by best-performing stock picker tracker TipRanks to be number 61 out of over 7,000 other professional analysts, mentioned that Zynga’s difficult days of the past are now in its rearview mirror. His view is because the company founded in April 2007 sees increased interest in its hyper-casual gaming segment.
The latter is known for its addictive and minimalist gameplay. Plus, hyper-casual gaming has been one of the fastest expanding genres in the sector, based on the report posted online by markets, business, and finance news outlet CNBC.
Zynga has succeeded in its concentration on acquiring new users. Additionally, this firm, which runs social video game services, is moving along with new games down its pipeline.
Zynga printed its highest ever third-quarter revenue and bookings recently. This event comes due partly to the scaling of its operations and its increased adeptness at publishing new game releases.
Moreover, the company primarily concentrating on social networking and mobile platforms, targeting connecting the world via games, has been efficiently managing its operating expenses.
Zynga has also managed its advertising growth quite well, leading to better-than-anticipated operating leverage. Based on this information about Zynga, we think investors should follow Mr. Brian Fitzgerald’s recommendation.
We gathered that this Wall Street analyst’s stock picks had been right 72 percent of the time, and they have returned an average of 57.1 percent.
Therefore, we want to inform investors that Mr. Fitzgerald is, indeed, a credible Wall Street analyst who carefully studied and analyzed the Zynga stock’s performance over the years. Hence, we suggest the investors try investing some of their funds in the Zynga stock.