27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Online video game developer Zynga Inc (NASDAQ:ZNGA) has the potential to show notable upside versus the Street's estimates through 2021, according to Wedbush.
The Analyst
Michael Pachter maintained an Outperform rating on Zynga with an unchanged $9 price target. Pachter also added Zynga's stock to the research firm's "Best Ideas List."
The Thesis
Zynga's two key title games "Empires & Puzzles" and "Merge Dragons!" — along with three new releases later this year — should help the company beat expectations over the coming years, Pachter said in a Tuesday note. (See his track record here.)
"We expect the shares to trade closer to our price target over the remainder of the year," the analyst said.
Pachter's inclusion of Zynga as a top pick follows a bullish research note at the beginning of August. The analyst lifted his price target on Zynga's stock to $9 at that time in reaction to the company's 14th consecutive quarter of sequential adjusted EBITDA growth in the second quarter.
Zynga's third-quarter guidance, which was mostly in-line with expectations, could prove to be conservative ahead of new game launches, according to Wedbush.
Price Action
Zynga shares were up 2.68% at $5.75 at the time of publication Tuesday.
Related Links:
Zynga Is Well Positioned In The Favorable Video Game Market, Stifel Says
Analysts Rave About Zynga's Q1; 'Game of Thrones' Game Launch Likely Coming In Q2
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!