Boston, MA 02/12/2014 (wallstreetpr) – Zynga Inc (NASDAQ:ZNGA) has not been dishing out good news to shareholders and the rest of Wall Street for quite some time. Some shareholders and analysts in Wall Street had reached a point where they believed that nothing good would ever come from Zynga Inc. However, towards the end of 2013 and in the first weeks of 2014, ZNGA has shown that it might just have come up with the perfect solutions that will leave shareholders and Wall Street smiling once again. Almost all shareholders and Wall Street analysts are of the opinion that Zynga was one of the most underperforming stocks of 2013, although they are changing their minds and rating.
One of the stock’s major attractions ion the past was its low price. Investors opted to buy this stock at lower prices in the belief and hope that it could pick up later thus bringing in a tidy return on investment when they sold it. This never materialized and only led to more investors feeling as if they made a poor decision, and should never have invested in Zynga Inc (NASDAQ:ZNGA) in the first place. If you have followed this stock closely, you will have noticed that it never falls below $3 per share. On the occasions when it does, it hits $2.75 per share and bounces right back up, meaning that this is Zynga’s floor. Lately, Zynga has been on an upward trend, and this is good.
One of the major milestones that Zynga Inc (NASDAQ:ZNGA) experienced in 2013 was when its founder and CEO, Mark Pincus, stepped down. Pincus was replaced by Don Mattrick, who brought his experience while working with Xbox and EA, before that, into Zynga Inc. The change of management was smooth and without the drama often associated with companies that seek to replace their founders with new personnel. In fact, the decision to pursue and appoint Don Mattrick was made by Mark Pincus. This smooth change in management helped to stabilize the company, but without the right products, it was never going to be enough. The effect of this move is now clear.
Don Mattrick is associated with success. If you look at what he did while at Xbox and EA, you see that he managed to bring stability and induced growth within those two firms. From looking at what is currently taking place within Zynga Inc (NASDAQ:ZNGA), one would be pessimistic to say that Don Mattrick is not producing the goods and desired results. Zynga appears to be more focused on its core business, more than it has ever been for a long time. While Zynga appeared to be distracted in the past, this has changed and the company seems to be pursuing its core business. Consequently, Zynga is making a gradual but positive change and turnaround.
Zynga Inc (NASDAQ:ZNGA) is one of the technology stocks that investors should keep an eye on in 2014. The company has reaped the results of being under strong and stable leadership. Any focus that it may have lost in 2013 under Pincus’ leadership is no more. The company is more focused and making the right decisions, which will only aid in strengthening investor confidence in 2014 and beyond. Ignore Zynga Inc (NASDAQ:ZNGA) at your own peril.
