Zynga stock price ran out of steam, under the lowering of recommendation from JP Morgan Chase, (JPM stock) which suggests to keep the action now instead of overweight in the portfolio.
Citing the recent upturn in the market price (ZNGA) since the unveiling of its new gaming platform, analysts at JP Morgan Chase consider that it is better not to buy it at the current price. It currently is trading down 5.99% (-0.88 USD Dollars) to US $ 13.81, after fluctuating between $ 7.97 and $ 15.91 since its IPO in December in 2011.
The game publisher, best known as the designer of Farmville and CityVille, has announced financial results for the fourth quarter last February. This was the first unveiling of its kind since its IPO and investor reaction was rather negative, causing the share price fall of 17.77%.
