Is Zynga heading in the right direction?
The company goes against the grain of the Nasdaq's fall and gets an analyst upgrade. Could it finally see its day in the sun?
In this video from Friday's Stock of the Day, Motley Fool analyst Jamal Carnette discusses why he likes some of the moves Zynga is making at the moment. The company just named David Lee as its new CFO, a sign that the company's new CEO, Don Mattrick, is steering the company in a new direction, away from where the company sat under the leadership of former CEO Mark Pincus.
So with the upgrade and the shake-up in leadership, could Zynga now be a buy? Jamal doesn't think so, at least not yet. He still has doubts about the company's monetization strategy, and doesn't see this as the type of company with a strong brand and wide moat that he personally would prefer to invest in.
But, he likes the moves the company is making, and thinks this could be a sign that it's at least heading in the right direction.
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Raise your periscopes out of your Hollows. [We have.] Watch to see if May comes early this year; If it does, we may "Sell in April and go away." The market is getting delinquent.
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