Zynga Inc (NASDAQ:ZNGA) has been soaring up the charts and has been quite successful, in the stock market, for the past few sessions. Last year the company had been facing a series of financial problems and lacked proper leadership. However, the appointment of Frank Gibeau, from Electronic Arts Inc, as the new CEO led to a change in the company’s fortunes. Investors are putting their faith in the leadership of Mr. Gibeau, who has shifted ZNGA’s focus from streamlining operations. It should be noted here that Mr. Gibeau has had over 20 years of experience, working at EA.
Analysts believe that it is just one game that can make a difference for Zynga and can help it get back to its IPO price. CSR Racing 2, the successor to CSR racing, has been making waves, as more than 190 million people have already downloaded the game on their iOS and android devices. In particular, it is the improvement in the quality of graphics, which has helped the game gain immense popularity.
CSR Racing 2 has been developed by Natural Motion Studio, owned by Zynga. The game is free-to-play, which means that although the users can download and play the game for free, but they would have to purchase some upgrades, with their credit cards. Torstein Reil, the CEO of Natural Motion, voiced his belief that CSR has a dedicated fan base, which would also be attracted to the sequel of the game.
A true valuation of the company and its stock can be obtained through its 2Q2016 financial report, which ZNGA is scheduled to deliver on August 4, at 4 pm ET. The earnings conference call would also be followed by a Q&A session, with the management. It is also interesting to note here that Zynga was one of those stocks that was least affected by the recent Brexit.
Zynga Inc (NASDAQ:ZNGA) completed the July 22 trading session, with a gain of 3.25% in terms of its share value, before closing at a share price of $2.86.
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