#6 - Zynga (NASDAQ:ZNGA)
Mobile gaming was already popular before the pandemic (think Candy Crush). Zynga (NASDAQ:ZNGA) is known as the brand behind such popular games as FarmVille, Words with Friends and, more recently Harry Potter: Puzzles and Spells.
Like any company in a field such as this, user engagement is critical. And on that score, Zynga is doing very well. In its most recent quarter, the company reported 31 million daily active users and 83 million monthly active users. Both numbers were numbers the company had not seen in about six years.
Zynga turned that user engagement into a 46% year-over-year revenue increase to $503 million. More impressively, the company set another record by generating a positive cash flow of $113 million.
It could be fair to say that this growth was a one-off due to the pandemic. However Zynga continues to develop more games and increase its development talent to ensure it can keep those engagement numbers high.
Zynga is also a backdoor play on 5G technology. The company is making inroad into the Asia market and expects that market to continue to heat up as 5G technology and its accompanying speed will make mobile gaming more desirable.
About Zynga
Zynga Inc develops, markets, and operates social game services in the United States and internationally. The company provides social games as live services played on mobile platforms, such as Apple iOS and Google's Android operating systems; social networking platforms, such as Facebook and Snapchat; and personal computers consoles, such as Nintendo's Switch game console, and other platforms and consoles.
Read More - Current Price
- $8.18
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
