Zynga Stock Also Slumped in November



ZNGA fell a marginal 0.5% last month

Zynga (ZNGA) stock fell 0.5% to close at $3.62 last month. The stock is currently trading 21% below its 52-week high of $4.57. The stock was last trading at these levels in April. Zynga stock has now fallen 10% since the start of the fourth quarter and 9.5% in 2018.

Zynga stock rose an impressive 55% in 2017. The stock is down despite the company beating earnings estimates for the last four consecutive quarters. Earlier this year, Zynga acquired game development company Gram Games for $250 million.

According to a Motley Fool report, in August, Zynga announced a deal to create a free mobile game associated with the Star Wars franchise in partnership with the Walt Disney Company (DIS). The deal is expected to drive strong sales for the company.

Zynga is a top gaming publisher on Facebook (FB). However, its move toward mobile gaming application downloads has affected its turnaround efforts.

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Analysts’ recommendations

Of the 15 analysts tracking Zynga, seven have recommended “buys,” seven have recommended “holds,” and one has recommended a “sell” on its stock. The average stock price target for Zynga is $4.69, indicating a potential upside of 30% from its current price.


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