Why It's Time to Buy Zynga Stock
Zynga's (NASDAQ: ZNGA) share price got a nice bounce last week after it reported strong third-quarter earnings results. The mobile-game developer reported a sequential decline in bookings (a non-GAAP measure of revenue) over the second quarter, but bookings still grew 6% year over year, driven by a higher contribution from in-game advertising.
The growth in advertising was a notable surprise given the anticipated negative impact of Apple's new privacy changes in iOS 14.5 that limits app developers' ability to track users across apps for advertising purposes.
The stock price had been falling in recent weeks, partly on concerns that Apple's new policy would pressure Zynga's in-game advertising business, but the mobile game maker is clearly navigating around this headwind just fine. Here's why the stock is a great buy at these lows.
Source Fool.com
