Zynga Closes Slightly Higher Following Bullish Analyst Report

Zynga inched higher today, closing up 19 cents, or 2 percent, to $9.24 a share, following a report by Wedbush’s Michael Pachter, who initiated coverage with an outperform rating and a $12.50 price target. “We believe Zynga is well-positioned for revenue growth due to its dominant market share among social game publishers,” he wrote in a note to investors. The social gaming company’s stock still has a ways to go to reach its IPO price of $10.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald