#3 - Zynga (NASDAQ:ZNGA)
Another popular Robinhood stock is Zynga (NASDAQ:ZNGA). ZNGA stock holds the number nine position of the app’s most popular stocks with share prices under $10.
For the unfamiliar, the company makes many of the mobile games that have become ubiquitous on smartphones and smart media. Among the games in Zynga’s portfolio are Words with Friends, CSR Racing, and Farmville. Online games accounted for approximately 80% of the company’s 2019 revenue of $1.32 billion. This offset a smaller increase in advertising which grew just 16%.
Obviously the Covid-19 pandemic serves as a potential catalyst as millions of Americans need something to do to pass idle hours. Another potential catalyst for the stock may come from a partnership with Amazon (NASDAQ:AMZN)in which Zynga will bring extra content to Prime subscribers for free.
The company had a record quarter in terms of both revenue growth and quarterly bookings. And even with the economy beginning to re-open, many Americans are still under shelter-in-place orders for the foreseeable future. With that in mind, I would expect that the next quarter’s earnings, which the company reports on May 6, will be equally as impressive.
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
