6.22 -0.01 (-0.16%)
After hours: 5:23PM EDT
|Bid||6.23 x 42300|
|Ask||6.24 x 39400|
|Day's Range||6.12 - 6.28|
|52 Week Range||3.32 - 6.65|
|Beta (3Y Monthly)||0.19|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.36|
Zynga Inc. today announced it will report its third quarter 2019 financial results on Wednesday, October 30, 2019, at approximately 1:05 p.m. Pacific Time .
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was Zynga Inc (NASDAQ:ZNGA). Is Zynga Inc (NASDAQ:ZNGA) ready to rally […]
(Bloomberg) -- The young woman in Monica Mazzei’s San Francisco law office was adamant: She wanted a prenuptial agreement.Never mind that the client had barely anything to her name. What she had was a bunch of startup ideas. She and her fiancé, who already had his own small tech company, signed a prenup with clear terms, Mazzei said: “The spouse who has an idea [and] starts a business ‘owns’ that business. It’s their baby.”A few years later, Mazzei, a partner at Sideman Bancroft, was traveling through the San Francisco airport when she saw her former client on a magazine cover. Her startup had struck gold. Her husband’s business had fizzled.In Silicon Valley, where penniless programmers fervently believe their ideas are worth billions, getting rich can take priority over getting married. California law assumes that any wealth created during a marriage is community property, which should be split equally in a divorce. That’s alarming not just for young entrepreneurs but also their investors.Divorce HavocFortunately, a well-written prenup is a safeguard against post-divorce havoc, which is why more and more young couples are insisting on the agreements, according to more than half-a-dozen lawyers in the Bay Area and elsewhere. Long popular with older wealthy couples who re-marry, prenups are also being demanded by entrepreneurs who want to keep future windfalls to themselves.“I am seeing more and more young people want to enter into prenuptial agreements who do not currently have a lot of money now but plan to have a lot of money someday,” said Manhattan-based divorce attorney Jacqueline Newman.In a 2016 survey by the American Academy of Matrimonial Lawyers, 3 in 5 divorce attorneys said more clients were seeking prenups in the past three years. About half said they’d seen a spike in the number of millennials requesting the agreements.“People’s concepts and notions of fairness when it comes to privately held businesses are changing,” said Mazzei, adding she’s seen “a tremendous increase” in prenups in the past eight years. “They feel that even if they’re married, this is their passion. The agreement should be reflective of that.”‘It’s Complicated’Today’s startup founders have plenty of prenup-writing forebears to emulate. Google co-founder Sergey Brin and Anne Wojcicki, who helped found personal genomics company 23andMe, had a prenup when they married in 2007. After they divorced with little fanfare in 2015, his stake in Google remained unchanged.“It’s complicated -- that’s all I can say,” Wojcicki told Bloomberg TV about the split.Oracle Corp.’s Larry Ellison has been married and divorced multiple times, but none affected his stake in the software company. Ellison is the seventh-richest person in the world with a net worth of $59.8 billion, according to the Bloomberg Billionaires Index.Still, a prenup hardly guarantees a smooth divorce. Judges can and do throw out the agreements, especially if they’re drafted poorly. “If you don’t put in the right language, a lot of prenups don’t do the job,” said Lowell Sucherman, a divorce attorney at Sucherman Insalaco in San Francisco.In 2017, One Kings Lane co-founder Alison Gelb Pincus, wife of Zynga Inc. founder Mark Pincus, challenged their premarital agreement in court while the couple was getting a divorce, according to a court filing. It’s unclear whether she prevailed as final terms of the divorce aren’t public.While venture capital firms don’t explicitly require prenups, they do demand legal language protecting their investments in the event a divorce court hands a chunk of a founder’s shares to an ex-spouse. So do other co-founders.Founders’ Control“Founders have wanted to ensure that someone else can’t suddenly come in and obtain some sort of founders’ control,” said Par-Jorgen Parson, a partner at venture capital firm Northzone, who has served on the board of Spotify Technology SA. “It’s just as often driven by the founders as by external investors. You don’t want to rock the balance of power.”Venture capital firms often demand that founders’ husbands and wives sign “spousal consent” forms. Such agreements determine who gets to vote for board members, and how and when shares can be sold. In the event of a divorce settlement (or death or disability), a founders’ spouse might end up with company shares. But, the agreements ensure that an ex can’t exercise much, if any, control over the company post-divorce.“We’re trying to make sure that people don’t become involuntary business partners with someone they don’t know, don’t like or who aren’t qualified,” said James Ficenec, a partner at Newmeyer & Dillion in Walnut Creek, California.Divorcing founders will often do anything to avoid handing over half of their shares in their startup.‘Keeping More’“Founders will try to negotiate keeping more of their shares,” said Michael Gorback, a partner at Hanson Bridgett. “You might balance it out some other way,” by paying exes in cash, a home or other investments.MacKenzie Bezos and Amazon.com Inc. founder Jeff Bezos divorced earlier this year, leaving her with a 4% stake and a net worth of $34.6 billion, according to the Bloomberg index. He kept 75% of the couple’s Amazon shares, and retains voting control of those she does hold.Amazon’s stock, of course, is publicly traded, which can make divorce negotiations easier.“One issue we come across very often is, ‘How do you value a startup?’” Mazzei said. Years before an initial public offering, a startup might have no profits or even revenue to speak of. A promising company could later go under -- or eventually be worth billions.Trust, CredibilityIn a divorce, “it can be quite difficult when you have a large asset that is illiquid,” said Lyssa Grimaldo, a wealth manager at San Francisco-based Wetherby Asset Management and a certified divorce financial analyst. Adding to the problem, she said: “One partner knows more about that asset than the other.”With enough billable hours, lawyers can usually sort out the legal ramifications of divorce. They’re less helpful in containing the chaos that a founder’s marital problems might create in the workplace or business relationships.“We have companies where the founder is the brand, and trust and credibility are core to the business,” said Ed Zimmerman, partner and chair of the tech group at Lowenstein Sandler in New York. “If you are investing in a company because you think the founder is amazing,” it can be alarming to learn that he or she is facing the distraction of an acrimonious divorce or custody battle, he said.If a divorce isn’t disclosed to key investors, they can lose trust in a founder who they thought they knew well. Then there’s sometimes other nasty fallout, of the sort that companies are increasingly sensitive to in the metoo era.“It would be great if we lived in a world where people who had marital problems didn’t manifest those problems by hitting on or dating people who worked at their company,” Zimmerman said. “Those kinds of things tend to be more problematic than who gets the shares.”(Updates with adviser’s comment in 23rd paragraph.)To contact the reporters on this story: Ben Steverman in New York at email@example.com;Anders Melin in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Stocks priced under $10 per share may seem cheap on first glance. But stocks with low share prices often end up there because they have gotten hit by heavy selling pressure. Robinhood keeps a running list ...
Hit Mobile Game Begins Month-Long Initiative Spotlighting the Power of Words and Community in the Battle Against Breast Cancer
The Zacks Analyst Blog Highlights: Activision Blizzard, Electronic Arts, Take-Two Interactive and Zynga
Activision Blizzard's (ATVI) upcoming Call of Duty: Mobile is expected to provide it a competitive edge in the crowded mobile games space.
Zynga Inc. (ZNGA), a global leader in interactive entertainment, today announced the worldwide launch of Merge Magic! - a brand new adventure puzzle game where players can lift the curse on mysterious new worlds by merging various creatures and by matching new items to win rewards that enable them to unlock enchanting new surprises along the way. Merge Magic! is developed by Gram Games, the studio behind global hits like Merge Dragons!, 1010! and Six!. “We wanted to create a new puzzle game where players can merge anything together to create unique mythical creatures that no one has ever seen before,” said Eren Yanik, Chief Product Officer of Gram Games.
(ZNGA) stock ticked up Tuesday after an analyst called the mobile-gaming company his “best idea,” saying he expects the company to bolster growth with acquisitions. Zynga has lately benefited from other deals it has used to build its category of games. Zynga “is well-positioned for consolidation in the mobile gaming market,” Cohen wrote.
Zynga Inc. , a global leader in interactive entertainment, announced today that its Chief Executive Officer Frank Gibeau will present at the following upcoming investor conference.
VanEck Video Gaming and Esports ETF (ESPO) is approaching its one-year anniversary and is doing so with some superlatives on its side. More importantly, ESPO is up about 30% year-to-date. ESPO seeks to track the performance of the MVIS® Global Video Gaming and eSports Index (MVESPO).
Today, Zynga Inc. (ZNGA), a global leader in interactive entertainment, announced that Zynga Poker, the world’s largest free-to-play mobile poker game, is partnering with three-time Emmy Award winning actor and Everybody Loves Raymond alum, comedian and star of the ABC comedy, Single Parents, Brad Garrett for a special ‘Celebrity Home Game’ sweepstakes event. Starting today, players can earn sweepstakes entries by completing Daily and Hot Streak challenges in Texas Hold ‘Em card games in Zynga Poker. Following a two-week contest period, semi-finalists will be asked to submit a one-minute video comedy audition to be judged by the comic himself, Brad Garrett.
This has been a good year for Snap (NYSE:SNAP). Snap stock is up 186% in 2019, and it even reached a new 52-week high at the end of July. Source: dennizn / Shutterstock.com SNAP's stock growth continues to outperform peers like Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR). CEO Evan Spiegel been selling millions of the company's shares. Just last week he sold over $33 million worth of SNAP stock. This seems to be a recent trend as both Facebook CEO Mark Zuckerberg and Amazon (NASDAQ:AMZN) CEO Jeff Bezos have also been selling millions of their company's shares.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSnap has been steadily improving its fundamentals after a rough 2018. The company's user base continues to steadily grow, which has boosted revenue and increased investor confidence. * 7 Discount Retail Stocks to Buy for a Recession Even still, some Wall Street analysts are hesitant when it comes to SNAP and the stock is considered a moderate buy. So is Snapchat stock worth investing in? Here are three things to consider first. 1\. User Base GrowthIn 2018, Snap's user base struggled after the launch of Instagram Stories, but the company has experienced a major shift this year. During the first quarter, Snap added four million daily active users and this figure increased to 13 million during the second quarter. The company now boasts 500 million monthly active users. This growth was largely fueled by Snap's updated version of its app and an increased focused on AR technology. Additionally, Snap recently announced it is partnering with Spotify to allow users to share music and podcasts directly within the app. 2\. Snap Flies under Regulation RadarThis year, the news has been relatively light when it comes to SNAP. The company has avoided much of the criticism it endured in 2018 over top executives leaving the company. Most importantly, SNAP avoided the regulatory issues that have plagued Facebook and other big tech companies. Facebook, in particular, has dealt with a $5 billion FTC fine and criticism over its new cryptocurrency Libra. 3\. Snap and GamingSnap's advertising business continues to be a strong source of revenue but that company's gaming business is where the real opportunity could lie.Last April, the company launched Snap Games, which quickly attracted the attention of the gaming developer Zynga (NASDAQ:ZNGA).Zynga introduced a new battle royale game exclusively on Snap's platform called Tiny Royale. SNAP also introduced five other titles when it launched in the spring. According to Evercore ISI analyst Kevin Rippey, Snap Games could bring in hundreds of millions of dollars in sales by 2020. The Bottom Line on Snap StockDuring its most recent earnings report, company executives seemed optimistic about SNAP's future growth prospects. The company's third-quarter revenue guidance has SNAP earning between $410 million and $435 million in revenue. And this is entirely possible if the company can keep growing its user base, increase engagement on its platform, and find new sources of revenue. All in all, we can expect good things from SNAP stock in the coming years. As of this writing, Jamie Johnson did not hold a position in any of the aforementioned stocks. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Big IPO Stocks From 2019 to Watch * 7 Discount Retail Stocks to Buy for a Recession * 7 Stocks to Buy Benefiting From Millennial Money The post Here are 3 Reasons Why SNAP Stock is Soaring in 2019 appeared first on InvestorPlace.
Stocks are volatile these days – between trade wars and President Trump’s twitter habit, it seems there’s always something to push the markets around. Last Friday’s trading saw a sharp drop of 2.5% in the S&P 500, Monday gained some back, and yesterday’s session walked those gains back partway. How is an investor to know what to do? One clear signal that a stock pick is a good one – the analyst upgrades. Wall Street’s analysts keep a close eye on their favored market sectors, rating stocks and then returning to them as market conditions change. And when they do, they may just upgrade a stock. That’s a sign for investors to take note. Here we look at three stocks which have gotten positive revisions in recent days. Cronos Group, Inc. (CRON)Cronos has had its troubles, like all of the companies emerging into the cannabis space. From working to establish supply and distribution chains, to dealing with the patchwork of legal statuses in the United States, to developing niches in recreational, medical, or pharmaceutical segments, the cannabis companies have had their hands full.Despite all of that, Cronos Group has just received an upgrade to its status from 5-star analyst Matt Bottomley of Canaccord Genuity. Bottomley moved his rating on CRON from Sell to Hold, acknowledging that the company’s fiscal Q2 performance justifies the improved outlook. In the recently reported quarter, Cronos reported an impressive 202% increase in net revenues year-over-year, along with a 232% increase in the amount of product sold in the same time. Bottomley’s price target on the stock is C$17 (US$12.77), indicating room for a 15.9% upside.At the same time Bottomley gave his upgrade, Piper Jaffray analyst Michael Lavery initiated coverage on CRON with a Buy rating. In support of his optimistic outlook, Lavery writes, “We expect Cronos to have modest near-term revenues from Canadian cannabis production, but believe it has significant potential growth opportunities with CBD products in the US…” His $18 price target shows confidence in a 63% upside for the stock.Overall, Cronos has a Moderate Buy rating from the analyst consensus, based on 3 buys, 3 holds, and 1 sell given in the past three months. CRON shares are priced at $11.02, and the average price target, $22.50, suggests an upside potential of 104%. Verizon Communications (VZ) Verizon, like most of the big American telecom companies, is a descendant of the old Bell System that was broken up under anti-trust laws in the early 1980s. Today, the company is the second-largest wireless services provider in the US, with over 153 million customers, and the second-largest telecom by revenues.The wireless industry, around the world, is in process of gearing up for the new 5G technology. Verizon finds itself well placed for the transition, having seen investors oversubscribe to a recent bond sale, giving the company plenty of ready cash to apply to 5G technology. The company’s recent fiscal Q2 report shows it in a strong position, with stable revenues, solid EPS, and robust subscriber growth. In the earnings report, CEO Hans Vestberg said, “Verizon made history this quarter by becoming the first carrier in the world to launch 5G mobility… we head into the second half of the year with great momentum.”Verizon’s strong performance prompted 5-star Oppenheimer analyst Timothy Horan, on August 27, to upgrade his stance on VZ from Hold to Buy. In note on the upgrade, Horan said, “The company should be early and successful in its 5G network, and we expect it to pick up a lot of mid-band spectrum inexpensively next year. Its ARPU (average revenue per user) should continue growing, and strong cable wholesale growth is accretive.” Horan adds his belief that Verizon will make an “early and successful” switch to 5G. His price target on VZ, $70, is indicative of a 22% upside to the stock.Verizon holds a Moderate Buy consensus rating, derived from an even split: 3 each holds and buys. Shares are priced at $57, and the $63 average price target implies a 11% upside for VZ. Zynga, Inc. (ZNGA) This video game company is best known as the creator of FarmVille, and its current hits include Zynga Poker and Words with Friends 2. Zynga currently boasts over 30 million monthly active users, a sure sign of success for a key metric in the social gaming industry.Wedbush analyst Michael Pachter is impressed with Zynga’s performance, but more importantly, he is impressed with the company’s outlook and forward guidance. In line with his upbeat outlook, Pachter added Zynga to his ‘Best Ideas’ list, a designation that includes the firm’s top stock picks. His price target on Zynga stock, $9, reflects his bullish stance; it indicates a 57% upside potential. Pachter has an 86% success rate when recommending ZNGA.Pachter sees two new games, Empires & Puzzles and Merge Dragons! with potential to beat expectations in the coming year, and he notes that Zynga has scheduled three more new releases before the end of 2019. says of the company’s prospects going forward, “Zynga's third-quarter guidance, which was mostly in-line with expectations, could prove to be conservative ahead of new game launches.” He added that, “[The new games] have the potential to drive significant upside to the Street’s expectations through 2021. We expect the shares to trade closer to our price target over the remainder of the year.” Zynga has earned a Strong Buy from the analyst consensus, based on 5 buys and 1 hold from the last three months. Shares sell for $5.72, a bargain for such a bullish stock, and the average price target of $7.74 suggests an upside potential of 35%.Visit the Trending Stocks page at TipRanks, and find out what other companies have attracted attention from Wall Street’s top analysts.