Zynga stock rose after UBS (UBS) analyst Eric Sheridan raised his rating on Zynga shares from “Neutral” to “Buy.” Sheridan also increased his price target for Zynga stock from $4 to $6 a share, Benzinga noted.
The upgrade sent Zynga shares rising to their highest price in more than a year.
Last month, Zynga stock sold off after it closed its YoVille game and received a negative report from a Sterne Agee analyst.
In January, Zynga shares moved higher after the company announced that it would spend $527 million to acquire mobile game developer NaturalMotion.
ZNGA stock has gained more than 70% over the past year. ZNGA stock closed at $4.49 a share on Monday.