Five Cheap Tech Stocks to Buy Now

Zynga Inc (NASDAQ:ZNGA)

Zynga Inc (NASDAQ:ZNGA) shares have gained over 23% year-to-date, as the California-based mobile game developer’s revenue totaled $190.5 million in the fourth quarter, a 3% increase on a year-over-year basis, and above the high-end of its guidance. Zynga’s operating expenses are also decreasing. The company recently acquired four Solitaire smartphone games for $42.5 million from Harpan LLC, one of which is among the top 20 downloaded games according to App Annie. Zynga CEO Frank Gibeau has previously talked about the advertising monetization possibilities for popular card games like solitaire, which explains the hefty price tag. Last month, Wedbush reiterated an ‘Outperform’ rating on Zynga shares, with a price target of $4.25. Of the 742 hedge funds tracked by Insider Monkey which filed 13Fs for the December quarter, 27 held long positions in Zynga Inc (NASDAQ:ZNGA) at the end of 2016.

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