|Bid||9.51 x 36200|
|Ask||9.55 x 40000|
|Day's range||9.49 - 9.84|
|52-week range||5.51 - 9.92|
|Beta (5Y monthly)||0.33|
|PE ratio (TTM)||146.62|
|Earnings date||05 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||10.43|
Zynga Closes Transformational Acquisition of Istanbul-based Peak; Expands Forever Franchise Portfolio with Toon Blast and Toy Blast
Zynga (NASDAQ: ZNGA) has orchestrated a successful comeback and quickly become one of the hottest and most-talked-about stocks in the video game industry. After falling on tough times early last decade as casual gaming moved away from web-browser platforms in favor of apps for phones and tablets, the company has reinvented itself as a mobile-focused publisher with a collection of bankable properties and new growth engines. The company's share price has climbed approximately 56% in 2020 and more than tripled over the last five years.
Zynga (ZNGA) closed the most recent trading day at $9.54, moving -0.21% from the previous trading session.
Snap (NYSE: SNAP) recently announced a new partnership with Zynga (NASDAQ: ZNGA) to develop more in-app games for Snapchat. The first new game from the collaboration, a multiplayer bumper car game called Bumped Out, was revealed at the Snap Partner Summit on June 11. The deeper partnership isn't surprising, since Zynga signed on as one of Snap's first partners for its Snap Games platform last year.
Zynga's popular game, Words with Friends, is coming to Alexa. The new voice-powered game will be known as Word Pop, and -- sorry -- you can't actually play it with friends right now, even though the game lives within Zynga's broader Words with Friends franchise. Instead, the new Alexa voice game is viewed as a complement to Zynga's multiplayer version.
Zynga Launches Word Pop, a Voice Game Based on Words With Friends, Exclusively for Amazon Alexa
The Zynga Inc (NSQ:ZNGA) share price has risen by 12.8% over the past month and it’s currently trading at 9.15. For investors considering whether to buy, hold...
The Securities and Exchange Commission defines penny stocks as securities trading under $5 per share issued by companies with very small market capitalizations. Stocks in this category often attract investors looking for explosive gains in short periods of time, but they come with very high levels of risk and have low rates of success. While penny stocks might look cheap on a superficial level, the underlying companies tend to be very shaky and provide little visibility into their operations and outlooks.
The COVID-19 pandemic and the resulting work-from-home trend have accelerated the growth of the video game industry in the last few months. Companies are seeing more players join the gaming fold, and with advancements in graphics technology on the horizon with the new consoles coming this fall from Sony and Microsoft, now is a good time to consider adding a few top video game stocks to your nest egg. CEO Bobby Kotick has guided Activision Blizzard (NASDAQ: ATVI) to market-beating returns since taking over in the early 1990s.
Shares of Zynga (NASDAQ: ZNGA) climbed 21.4% in May, according to data from S&P Global Market Intelligence . Zynga's first-quarter sales and earnings topped the market's expectations, but the company's earnings report also arrived with declining user-engagement figures that seem to have briefly weakened bullish sentiment on the stock. Zynga's share price largely climbed in conjunction with market momentum during the month, but it saw a pronounced uptrend begin on May 28, one that spurred double-digit gains.
Lower-priced stocks tend to have smaller market caps and generally present a better opportunity to get in early on a company's long-term growth. There are plenty of options out there to find potential investments trading at a lower price, but it's harder to find great companies trading so low. The first pick is Sirius XM (NASDAQ: SIRI), a Warren Buffett-backed bet on satellite radio.
Zynga (ZNGA) is enhancing its mobile gaming portfolio with the purchase of Istanbul-based Peak. The addition of Toon Blast and Toy Blast will expand Zynga's "Forever Franchises" to eight.
SpaceX made history this weekend, tech executives respond to the ongoing protests against racism and Zynga announces a big acquisition. SpaceX’s Crew Dragon "Endeavor" successfully docked with the International Space Station as planned on Sunday morning, marking another key milestone during this historic Commercial Crew demonstration mission it’s conducting with NASA. On-board were NASA astronauts Doug Hurley and Bob Behnken, the first people ever to make the trip to orbit aboard a spacecraft built by a private company.
Zynga (NASDAQ: ZNGA) is spending $1.8 billion to acquire Peak, the Turkish mobile gaming company behind Toon Blast and Toy Blast, for $1.8 billion. In a press release announcing the acquisition, the largest ever for Zynga, the company said buying Peak will enhance its live games offering and will drive margin expansion in the coming years. Under the terms of the deal, Zynga is paying about $900 million in cash and $900 million in stock to acquire all of Peak.
(Bloomberg) -- Zynga Inc. agreed to buy Turkish mobile-game maker Peak for $1.8 billion, making its biggest acquisition ever during an industry boom fueled by consumers staying at home with few live-entertainment options.The deal is comprised of $900 million in cash and $900 million in Zynga stock, the San Francisco-based company said in a statement Monday. It’s slated to be completed in the third quarter. The announcement confirmed an earlier Bloomberg News report.The Peak deal will bring Zynga a popular lineup of puzzle games called Toon Blast and Toy Blast. The company is making the acquisition at a time when video-game companies are thriving along with purveyors of video and audio streaming, as the pandemic drives a search for diversions.Zynga’s shares were up as much as 4.5% to $9.57 in New York trading Monday. They were up 50% this year through Friday.Zynga will pay Peak’s owners 114 million shares priced at $7.92, the volume-weighted average closing over the past 30 trading days. Zynga will have $600 million in cash on its balance sheet after the deal, Chief Executive Officer Frank Gibeau said in an interview.At $1.8 billion, the Peak purchase eclipses earlier transactions, including the 2018 deal to buy the majority stake in Finland’s Small Giant Games for $560 million, according to data compiled by Bloomberg.“Peak is an amazing founder success story ‘Made in Istanbul’ and the first Turkish unicorn exit,” said Roland Manger, co-founder and partner of Earlybird Venture Capital, one of Peak’s backers.User BoostThe acquisition is expected to boost the number of average users playing Zynga’s games daily by more than 60% by expanding its international audience, Gibeau said.Zynga’s acquisitions have been critical to its revenue growth and its successful turnaround under Gibeau who took over as CEO in 2016. The idea is to create a mini-empire of successful game studios that can make franchises that remain popular for years.“If you think about where Zynga is positioned right now, you could argue that this is a transformational deal for us,” Gibeau said. “It’ll basically add a third to our live-operations revenues and bookings.”Revenue from live operations refers to sales made from purchases in games. He added that Peak could add about $300 million to Zynga’s bookings in the second half of the year.Zynga management first met Peak’s co-founder and CEO Sidar Sahin in 2017, when Zynga bought Peak’s casual card business for $100 million. It had also bought a company in Turkey’s gaming scene before, having acquired Gram Games in 2018.Deal TalksDiscussions about the bigger deal picked up at the end of last year with several trips back and forth between their respective headquarters in San Francisco and Istanbul, Gibeau said. When the pandemic hit the U.S. in March, both companies decided to keep negotiations going.Peak should help Zynga expand its margins, Gibeau said. Even without those results, Zynga increased its revenue guidance for the second quarter and the full year, according to the statement, although it expects a wider second-quarter per-share loss.What Bloomberg Intelligence Says“Zynga’s agreement to acquire Peak Games for $1.8 billion is a prudent acquisition that will boost annualized revenue by about 50%, based on SensorTower data, and drive meaningful EPS accretion. At about 2.7x trailing sales, the deal represents a discount to Zynga’s 5.6x multiple and peer Glu Mobile (3.4x), but we await greater detail on Peak’s financials and margins to fully gauge the impact.”\--Matthew Kanterman, technology analystClick here to read the researchPeak was founded in 2010 in Istanbul. Besides Earlybird, it’s backed by venture capital firms Endeavor Catalyst and Hummingbird Ventures.“The Peak team proved that we can produce tech unicorns in Turkey and this is a great milestone for the local ecosystem,” said Pamir Gelenbe, a partner at Hummingbird Ventures. He said the seed investors received a return of more than 200 times their initial investment.Video-game companies have been taking advantage of the renewed interest in their products to do deals. Last month, AppLovin Corp. paid about $500 million for Machine Zone, Bloomberg News reported. Fortnite maker Epic Games Inc. has also been in fundraising talks.(Updates with shares in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Today, some news of a huge acquisition out of Turkey that represents the first billion-dollar-plus exit for a startup out of the country. Interestingly, this is the second time that Zynga has made a Peak Games acquisition.