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See the best of Reuters photography. See more | Photo caption Battle for Aleppo The battle for Syria's biggest city. Slideshow Looking for work The frontlines of the unemployment crisis. Slideshow Analysts slash targets after Zynga warns of loss Tweet Share this Email Print Related News Zynga slashes 2012 outlook again, shares hit record low Thu, Oct 4 2012 Zynga warns of third-quarter loss, lowers 2012 outlook Thu, Oct 4 2012 Facebook crosses billion threshold, on quest for growth Thu, Oct 4 2012 Facebook's new pitch to brand advertisers: forget about clicks Mon, Oct 1 2012 RIM buys itself breathing room for BB10 launch Fri, Sep 28 2012 Related Topics Tech » Hot Stocks » Asian Markets » Media » The corporate logo of Zynga Inc, the social network game development company, is shown at its headquarters in San Francisco, California in this file photo taken April 26, 2012. Credit: Reuters/Robert Galbraith/Files Fri Oct 5, 2012 2:55pm EDT (Reuters) - Brokerages lowered their price targets on Zynga Inc's stock by up to 40 percent after the "Farmville" game maker slashed its 2012 outlook for the second time due to a decline in the number of paying customers. The company's shares fell 20 percent to a year low on the Nasdaq on Friday. The stock is trading at $2.21 - a fraction of the $15.91 high it touched in March. Shares of Facebook Inc, which derives over a tenth of its revenue from fees paid by Zynga, also fell 2 percent to $21.53 in morning trade. The game maker gets most of its revenue from titles that are played on PCs using Facebook's social gaming platform. Its games "FarmVille", "FrontierVille", "Zynga Poker", "Mafia Wars" and "CityVille" accounted for 83 percent of the total revenue last year. In July, it reported a sharp fall in second-quarter revenue as it struggled to retain users on Facebook. The percentage of paying users continues to decline as greater variety of games became available for free on Facebook, Macquarie Equities Research analyst Michael Pachter said. The company has also been hit by delays in its game pipeline as older titles fade and it has struggled to come up with new hits for mobile devices. Zynga said on Thursday it was still struggling to stem user flight from Facebook games like "CityVille" and "FarmVille". "Modest user churn and engagement erosion likely accelerated during the spring and has continued to-date," Piper Jaffray & Co analyst Michael Olson said. The company will continue to struggle because of newer titles overtaking older and more successful games and lower revenue generation rates for its mobile games, Needham & Co analyst Sean McGowan said. Zynga's popular mobile titles such as "Words With Friends" and "Draw Something" generate less revenue and profit for the company, Stifel Nicolaus analyst Jordan Rohan said in a note. During the third-quarter, Zynga was hit by charge of $85 million to $95 million related to its $182 million acquisition of OMGPOP, a New York game studio. The studio failed to replicate the success of "Draw Something", its main hit. Macquarie Equities Research cut its price target on Zynga stock to $2.50 from $3.50. Wedbush Securities slashed its price target to $4.00 from $7.00 and Evercore Partners cut its target to $1.70 from $2.00. Other brokerages too lowered their price targets to about $3.00. The San Francisco, California-based company, which went public with much fanfare in December, has since lost three quarters of its market value. Though the company's new web-based games such as "The Ville", "ChefVille" and "FarmVille 2", began well, growth tailed off after hitting about 7 million daily active users, BMO Capital Markets analyst Edward Williams said in a note. Several of its top executives including Chief Operating Officer John Schappert and Chief Creative Officer Mike Verdu have quit the company since August. (Reporting by Neha Alawadhi in Bangalore; Editing by Sreejiraj Eluvangal) Tech Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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