10 Reasons To Sow While Others Harvest
http://seekingalpha.com/article/1112011-zynga-10-reasons-to-...

Zynga Positives

1. Research and Development
2. Leading Paradigm Change in Gaming
3. Massive User Base
4. Restructuring and Cost Cutting
5. Real Online Gambling
6. Huge Cash Hoard
7. Share Buyback
8. Acquisition Target
9. Synacor Partnership
10. Valuation

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Zynga Risks

1. Facebook Umbilical Cord cut off
2. Acquisitions at a High Price
3. Monetization Issues
4. Dependence on other Internet Platforms

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We think that Zynga is currently highly undervalued, with the market giving it a value of only $800 million (if you exclude its cash from the balance sheet). The market is pricing the company as if it will go bankrupt, without the possibility of it massive R&D team introducing new blockbuster game titles. The company's management has started to sharply cut costs and streamline operations. The company's strong push into online gambling provides another upside possibility. The risk reward proposition is very compelling in the case of Zynga. Given its current valuation, it also looks like an attractive buyout target by bigger Internet and gaming companies.