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Strength Seen in Zynga (ZNGA): Stock Surges 24%
February 03, 2014

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Zynga (ZNGA - Free Report) was a big mover last session, as the company saw its shares surge nearly 24% on the day. This significant rally higher can be attributable to solid volume with far more shares changing hands than in a normal session. The shares have been trading in the near flat range of $3.39–$3.63 since Jan 16 and shot up to $4.40 on Jan 30. The stock surged on the company’s narrower-than-expected fourth-quarter loss.

In the last 30 days, this online social games developer did not witness any estimate revision and the Zacks Consensus Estimate has remained unchanged. However, the recent rally high is encouraging, so make sure to keep a close watch on this firm in the near future.

Zynga currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Investors interested in the gaming industry may also consider stocks like Bally Technologies, Inc. , Wynn Resorts Ltd. (WYNN - Free Report) and Galaxy Entertainment Group Limited . All these stocks carry a Zacks Rank #1 (Strong Buy).

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