Home
Games
Games News
JMP starts Zynga with "market outperform" rating, shares jump

JMP starts Zynga with "market outperform" rating, shares jump

By Reuters | Updated: 23 August 2012 16:22 IST

Click Here to Add Gadgets360 As A Trusted Source

JMP Securities initiated coverage on Zynga Inc with a "market outperform" rating, Dow Jones reported, sending the social gaming company's shares up as much as 10 percent.

Zynga, one of the several Internet startups that made a debut with fanfare last year, slashed its 2012 earnings outlook late last month blaming a steep drop-off in players for its core Facebook Inc money makers.

Shares of the San Francisco based creator of "Farmville" were up 7 percent at $3.17 on the Nasdaq on Wednesday morning. They have lost more than 40 percent of their value since the company slashed its outlook on July 25.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.