9.58 -0.01 (-0.10%)
After hours: 7:57PM EDT
|Bid||9.55 x 34100|
|Ask||9.58 x 38500|
|Day's range||9.30 - 9.88|
|52-week range||5.51 - 9.88|
|Beta (5Y monthly)||0.28|
|PE ratio (TTM)||147.54|
|Earnings date||29 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||9.40|
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.
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.
Zynga, the creator of Words with Friends and FarmVille, is making its biggest acquisition to date, paying $1.8bn for Peak Games, at a time when video games are booming under lockdown. Istanbul-based Peak Games, maker of popular puzzle titles Toon Blast and Toy Blast, will add millions of players to Zynga’s portfolio and bolster its position in the lucrative puzzle segment. Toon Blast, which ranks among the top 10 highest-grossing mobile games, competes with the likes of King’s Candy Crush Saga and Playrix’s Gardenscapes in the so-called match three puzzle category.
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.
Zynga Enters Into Agreement to Acquire Istanbul-based Peak, Creator of Top Charting Mobile Franchises Toon Blast and Toy Blast
Here we discuss some gaming ETFs that are well poised to gain as an increasing number of people are resorting to in-house entertainment modes like video games amid the lockdown measures.
(Bloomberg) -- Voodoo SAS’s backers have kicked off the sale of a stake in the French mobile game developer, people with knowledge of the matter said.Marketing materials with an overview of the business have been sent to potential buyers, the people said, asking not to be identified as the information is private. The sellers are seeking indicative bids by early June, according to the people. A deal could value Voodoo at more than 1.5 billion euros ($1.6 billion), one of the people said.The decision to push ahead with the sale comes at a time when the coronavirus pandemic is keeping more people indoors and on their phones. That is helping to shield the mobile gaming industry from the virus’s broader economic impact, which is slowing dealmaking in other sectors.Voodoo is majority owned by its co-founders Alexandre Yazdi and Laurent Ritter. In 2018, they sold a stake in the business to a Goldman Sachs Group Inc. private equity fund called West Street Capital Partners VII.The company’s shareholders have been gauging interest from potential investors including rival game developers Ubisoft Entertainment SA and Zynga Inc., Bloomberg News reported in April. The process is at an early stage, and there’s no certainty the deliberations will lead to a transaction, the people said.A representative for Goldman Sachs declined to comment. An official at Voodoo didn’t immediately respond to a request for comment.Voodoo, which was started in 2013, makes easy-to-play games including “Helix Jump,” “Roller Splat” and “Snake VS Block.” Many are free to download with optional in-game purchases. The company’s games have more than 300 million monthly active users and have generated in excess of 2 billion downloads, according to its website.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.
(Bloomberg) -- Amazon.com Inc. faces a crucial test on Wednesday with the release of its first original big-budget video game. The reception from homebound gamers will signal whether the company can become a force in a $159-billion global industry dominated by the likes of Microsoft Corp. and Activision Blizzard Inc.Crucible is a free-to-play PC game in which teams hunt down opponents and creatures on a distant planet. Amazon plans to start selling another game in August. Called New World, it will put players on a mysterious island where they will battle one another and hunt. The company is also working on The Lord of The Rings game and some unannounced projects.Crucible will make money by selling digital merchandise as well as seasonal battle passes. New World should fetch $40 for a standard edition and $50 for a deluxe version, including additional in-game items and a digital art book.“There’s tremendous room for invention in games,” says Mike Frazzini, the vice president of Amazon Games. “We’re just getting started.”If the first two titles are well received, Amazon’s gaming division could attract talent and shed a reputation for fits and starts. Popular games could also help build momentum for the company’s widely expected launch of a game-streaming service to rival Google Stadia, which lets users play a bunch games from any compatible device, without needing to download or update them. “There is much riding on the success of Crucible and New World,” says Billy Pidgeon, an analyst at Go Play Research.Amazon has been selling games from independent as well as the world’s largest publishers for decades, and its Amazon Web Services and tools support development of other companies’ games. It entered game publishing in 2012, partly to give consumers another reason to sign up for its Prime subscription, which along with free shipping offers a variety of entertainment options including television shows and movies. Early efforts that focused on mid-tier games, including some designed for Amazon's Fire TV streaming devices, didn't make a splash.Amazon constructed its game strategy from various pieces. In 2014, the Seattle-based company purchased Twitch, where people stream themselves playing such games as Fortnite and Valorant. Two years later, Amazon launched Twitch Prime, which gives game-playing Prime subscribers extra perks for no additional cost.The company began working on its own titles by hiring famed designers like Kim Swift. But Amazon has struggled to retain key talent, including Swift, who left for Electronic Arts Inc. and now works at Google. In 2018, Amazon canceled a game called Breakaway, in which teams tried to move a ball to their opponent’s goal. Last summer, the gaming news publication Kotaku reported that the company had laid off dozens of game developers and shelved some unannounced titles. Even the Crucible and New World release dates have been pushed out; Amazon blamed fallout from Covid-19.There’s plenty of competition. Microsoft, Sony Corp. and Nintendo Co. all have their own hardware—often an advantage because consoles enable advanced features. Facebook Inc., meanwhile, offers games like FarmVille on its social network, and its Facebook Gaming live-streaming service has been stealing share and streamers from Twitch. Amazon is also competing with established game publishers such as Activision and EA, which are constantly improving their existing games and coming up with new hits.Amazon has called in some extra help to push its games across the finish line. In 2017, former EA veteran Bing Gordon left Amazon’s board to help guide the division as a consultant. He has advised on marketing strategy and even played some games and offered feedback. Gordon is renowned for leading EA’s product development and creating an innovative pricing strategy for its online games.His initial agreement to consult for Amazon’s games division was extended and runs for about another year, according to a person familiar with the matter. A company spokesperson confirmed Gordon is advising the division. His involvement with Amazon’s game unit was previously reported by the tech news site The Information. Gordon is also on the board of mobile game maker Zynga Inc.“Amazon Game Studios is still finding its way,” says Susan Eustis, president of Wintergreen Research. But one hit game could provide a huge lift, she adds, and Amazon's 150 million paid Prime members globally represent a big market advantage.Launching a product in the midst of a pandemic may seem counter-intuitive. But gaming has become a go-to entertainment choice for people hunkered down at home—a captive audience if ever there was one. Players have been flocking to new releases like Animal Crossing: New Horizons, as well as rediscovering old favorites like Fortnite. Still, as the lockdowns ease, the recent surge in game playing could abate. Whether people keep paying for games amid skyrocketing unemployment remains to be seen.Amazon’s new games are likely to get a bump from Twitch, which can help publishers market new releases. Twitch’s players and streamers have been involved in the development of Crucible from early on. The game itself is specifically adapted to show well on the service: Characters are easily recognizable from a distance. It’s fast-paced from the get-go, an effort to make it exciting to watch. Twitch has said that ads on the platform to promote EA’s Apex Legends game helped it get 25 million unique users in a week.“One of the things that we hear most often from people who try Crucible is that it feels unique,” Frazzini says. “There are elements and gameplay mechanics that feel familiar, but they’re combined in a way that’s different from anything else they’ve played.”But making a blockbuster game is not easy, for anyone. Some reviewers who got an early peek at the two games liked them; others have not.“The buzz on these games has not been that great,” says David Cole, founder of DFC Intelligence, which tracks digital entertainment. “They are ambitious, but the market changes fast and both products already look passe now.”There have been plenty of naysayers with many titles that have gone on to become a success. Ultimately, it’s the players who will decide whether Amazon will become a gaming powerhouse.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.
Taiwan Semiconductor Manufacturing, Chipotle, Activision Blizzard, Glu Mobile and Zynga highlighted as Zacks Bull and Bear of the Day
Zynga's's (NASDAQ:ZNGA) stock is up by a considerable 14% over the past three months. We wonder if and what role the...
Zynga (NASDAQ: ZNGA) published its first-quarter earnings earlier this month, delivering a mixed bag of results. Zynga stock has declined roughly 3% since the earnings release. The company headed into its first-quarter earnings release with shares trading at their highest level since 2012, so it's not shocking that the stock has pulled back slightly.
Zynga to Present at the J.P. Morgan Global Technology, Media and Communications Conference
The stock sell-off we have experienced in recent weeks has probably led some to look for bargains on the stock market. As most investors know, a low nominal stock price does not necessarily mean a stock has become a bargain. A lower stock price can change the value proposition of many stock investments.
Amid COVID-19 lockdowns, one area that has fared well is video game stocks. Given the original game and product releases, Electronic Arts (NASDAQ: EA), NVIDIA (NASDAQ: NVDA), and Zynga (NASDAQ: ZNGA) could provide the industry with an additional boost even if many gamers have less time for their hobby. The company just lost its 15-year exclusivity deal with the NFL.
Zynga's (ZNGA) first-quarter results 2020 reflect strength in live services and robust growth in international markets, partially offset by lower advertising demand due to COVID-19-led lockdown.
Ladies and gentlemen, thank you for standing by, and welcome to the Zynga First Quarter 2020 Results Conference Call. Thank you and welcome to Zynga's first quarter 2020 earnings call. On the call with me today are Frank Gibeau, our Chief Executive Officer; and Gerard Griffin, our Chief Financial Officer.
Zynga (ZNGA) delivered earnings and revenue surprises of -80.00% and 4.78%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Garth Brooks Joins Amazon Prime and Zynga’s Collaboration to Bring Free Mobile Content to Words With Friends