Analysts’ Top Technology Picks: ZNGA, TTWO

By Jason Carr

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Zynga (NASDAQ: ZNGA) and Take-Two (NASDAQ: TTWO) with bullish sentiments.

Zynga (NASDAQ: ZNGA)

Jefferies analyst Brian Fitzgerald reiterated a Buy rating on Zynga (NASDAQ: ZNGA) today and set a price target of $5. The company’s shares closed yesterday at $2.78.

According to TipRanks.com, Fitzgerald is a top 100 analyst with an average return of 15.6% and a 71.1% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Endurance International, Activision Blizzard, and IAC/InterActiveCorp.

Zynga has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.

Take-Two (NASDAQ: TTWO)

In a report released today, Andrew Uerkwitz from Oppenheimer reiterated a Buy rating on Take-Two (NASDAQ: TTWO), with a price target of $75. The company’s shares closed yesterday at $58.55.

Uerkwitz said:

“In conjuncture with our white paper on DLC/MTX, we are raising our price target on Take-Two. We believe one of the biggest draws for consumers to spend on DLC/ MTX is the quality of game IP. We believe TTWO with its leading IP is underearning mostly because of the breaks between title launches. For example, Red Dead Redemption, slated for fall ’17 launch, has never monetized MTX/online multiplayer. Once launched, we see investors starting to fully appreciate this growth story. Additionally, in our review, we came back to mgmt commentary about a more regular launch slate. With that in mind, we did a quick analysis of what that could mean for the company.”

According to TipRanks.com, Uerkwitz is a 4-star analyst with an average return of 5.6% and a 55.1% success rate. Uerkwitz covers the Technology sector, focusing on stocks such as Activision Blizzard, Tower Semiconductor, and Himax Technologies.

Currently, the analyst consensus on Take-Two is Moderate Buy and the average price target is $61.71, representing a 5.4% upside.

In a report released yesterday, Piper Jaffray also maintained a Buy rating on the stock.

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