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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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik