Description
Zynga delivered strong results with record bookings and revenue and operating leverage that surpassed Wall Street expectations. The company’s top-line beat was driven by robust advertising results by a hyper-casual portfolio of Rollic. The company has introduced Piggy Bank in Toon Blast, Dragon Missions in merge Dragons, Fantastic Feasts in Harry porter, and Alliance Quest in Empires and Puzzles. Moreover, it also has a strong game pipeline. Zynga recently launched FarmVille 3 all over the world, a re-imagination of one of the most iconic franchises of the company for the mobile platform. The company’s integration with Chartboost is going perfectly well, and progress is being made in creating an advertising platform for next-generation mobile. Zynga is also building a mediation platform and supply-side platform of Chartboost that is likely to improve the production in its huge portfolio of operated and owned advertising inventory. Overall, we remain optimistic about the company’s stock and give a ‘Hold’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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