When you compare ZNGA valuations with distant cousin GRPN, my estimates have ZNGA priced in the low $4s as opposed to current pps. Perhaps we will see fair value take place when new CEO starts running the show then the climb up to the $4s very similar to what happened to GRPN.
After GRPN replaced their CEO, stock started its ascent to where it is now nearly doubling. Can ZNGA follow GRPN's footsteps? I'm guessing yes - especially if the new CEO can put more & better goods on the table.