Zynga ($ZNGA) has no excuse to trade below IPO. The stock is not liked by the market though.In Q3, it reported a profitable quarter and the stock traded at $4.30.ZNGA stock is now $3.60: $ZNGA, Zynga Inc. / H1 What's the problem?Management is overpaid. The leadership team is not doing right for shareholders and increasing value. It's time that it buy back shares, for starters.Or markets wake up and value ZNGA higher, after four quarters of profit growth.Related: Glu Mobile $GLUU is also an undervalued mobile game developer.ZNGA worth more. Agree or disagree? Login now to vote. Join the group of Value Stocks. With Over 800 members. Comment below.