Zynga’s Stock Rises as Wall Street Approves of OMGPOP Acquisition

Despite Zynga paying a pretty penny for OMGPOP yesterday, Wall Street analysts generally approve of the acquisition. In early afternoon trading, Zynga’s stock was up about 2 percent, or 26 cents, to trade at $13.98 a share. In a research note, Baird Equity Research wrote that it believes OMGPOP will add an attractive user base to Zynga, and said it was generally bullish on Zynga’s prospects, raising its price target to $14 from $13 a share. Wedbush, which has a price target of $17 a share, believes the acquisition will accelerate Zynga’s smartphone growth, which it calculates is less than 10 percent of its revenue.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work