Shares of Zynga (NASDAQ:ZNGA) are seeing a boost today after being upgraded to Equal Weight by Morgan Stanley. This has the game maker bucking the trend that has dogged the NASDAQ Composite index of other tech stocks this year, which has seen a considerable decline over the past few months.
In this video from Friday's Stock of the Day, Motley Fool analyst Jamal Carnette discusses why he likes some of the moves Zynga is making at the moment. The company just named David Lee as its new CFO, a sign that the company's new CEO Don Mattrick is steering the company away from where it sat under the leadership of former CEO Mark Pincus.
So with the upgrade and the shake-up in leadership, could Zynga now be a buy? Jamal doesn't think so, at least not yet. He still has doubts about the company's monetization strategy, and doesn't see this as the type of company with a strong brand and wide moat that he personally would prefer to invest in. But he likes the moves the company is making, and thinks this could be a sign that it's at least heading in the right direction.