Johnson also noted that the mobile games market is the fastest growing segment in the rapidly growing video games industry.
Johnson mentioned that Zynga, which specializes in free-to-play social games, uses live services bolstered by solid data analytics to boost in-game monetization and returns from advertising."We think ZNGA has a competitive advantage in creating deeper relationships with its players over other mobile competitors," the analyst said.
According to Johnson, acquisition has been a key strategy for Zynga, and he estimates that the company holds around 2.5% market share of the “highly fragmented mobile games market". Johnson mentioned that Zynga has pursued aggressive acquisition of companies with attractive properties wherein “it layers higher margin live services or advertising supported by its superior data analytics.
On Monday, Zoom Video Communications unveiled a $100 million venture fund expand offerings of apps and hardware products.
The fund will invest in developer partners with early market traction.Portfolio firms will receive investments of between $250,000 and $2.5 million to build solutions that for Zoom customers’ communication and collaboration purposes, as indicated by the company.
"My hope is that the Zoom Apps Fund will help our customers meet happier and collaborate even more seamlessly, and at the same time help entrepreneurs build new businesses as our platform evolves," Founder and Chief Executive Eric S. Yuan in a statement.
Salesforce.com announced that it is planning to reopen its San Francisco headquarters in May along with its offices in Palo Alto and Irvine, Calif.
The cloud company’s tower in San Francisco has 61 floors and 1.4 million square feet of office space.In the first stage, which is limited to the U.S. and only in areas that have a company-assigned coronavirus risk rating that’s flat or decreasing, fully vaccinated employees can volunteer to join groups of up to 100 people who can work on certain floors; the company will require employees to take Covid tests twice a week.
However, it experienced year-over-year decline in fiscal-third-quarter earnings and revenue.
For the three months ended Feb. 28, adjusted earnings came in at 96 cents a share, compared with 97 cents in the year-ago quarter.Analysts polled by FactSet expected 92 cents a share.
Revenue fell -2.6% year-over-year to $1.11 billion, in line with analysts’ estimates.
"Client retention remains strong and at record levels, and our results for the third quarter show that our resilient business model has helped us navigate the uncertainties created by COVID-19," President and Chief Executive Martin Mucci said in a statement.
Looking ahead, Paychex expects both revenue and adjusted earnings per share to range between flat with to down -2% in fiscal 2021.
On Tuesday, financial management and human capital management software company Workday announced that it closed the acquisition of Peakon. Analysts at J.P. Morgan added the company to the investment firm's analyst focus list. J.P. Morgan analyst Mark Murphy affirmed his overweight rating on Workday shares and $260 price target. Murphy added Workday to the US Equity Analyst Focus List in the...
Snowflake reported a fiscal-fourth-quarter net loss that widened from the year-ago quarter. However, the cloud-based data warehousing company’s revenue more than doubled. For the quarter ended Jan. 31, the company’s loss of -$198.9 million, widened from -$83.3 million in the year-earlier quarter. On an adjusted basis, the loss was -17 cents a share, in line with analysts’ expectations...
Zoom Video reported fourth-quarter results and guidance – both above analyst expectations. The communications tech company’s fourth quarter adjusted earnings came in at $1.22 per share, compared to analysts’ forecast of 79 cents per share. Revenue increased +369% from the year-ago quarter to $882.5 million, also ahead of the $811.7 million expected by analysts. For the first quarter, Zoom...
Following Salesforce full-fiscal year 2021 guidance that fell short of analysts’ expectations, some analysts lowered their price target or seemed cautious on the software company’s shares. Piper Sandler analyst Brent Bracelin cut his one-year price target to $240 from $242, while maintaining neutral rating. He sees fiscal 2022 as a “year of digestion” with little to no improvement in margins...
Salesforce reported its fiscal fourth quarter earnings that surpassed analysts’ expectations. However, the cloud-based software company’s full-year guidance that is below analysts’ forecasts. Adjusted earnings for the quarter ending Jan. 31 came in at $1.04 per share, compared to 75 cents per share as expected by analysts, according to Refinitiv. Revenue rose +20% from the year-ago quarter to...
Ping Identity posted fourth-quarter revenue that fell short of analysts’ expectations. The identity management and access control software company's guidance midpoint is also below analyst forecasts. The company’s revenue fell -7% year-over-year to $63.3 million, well below the Street consensus forecast of $68.2 million. Annual recurring revenue rose +15% from the year-ago quarter to $259.1...
Uber, Lyft, Doordash, and other ride-sharing/delivery apps are spending a lot of time in court these days. At issue is the status of drivers -- are they independent contractors, as Uber and others insist, or are they employees? The difference could cost the companies billions. Last week, the U.K.'s Supreme Court dealt a blow to Uber, in ruling that a group of former drivers were entitled to...
Salesforce said that the U.S. Justice Department’s Antitrust Division has requested Salesforce and Slack for more information ahead of Salesforce’s plan to acquire the software company for $27 billion. “We’ve appreciated our constructive dialogue with the Department of Justice and look forward to it continuing,” a Salesforce spokesperson told CNBC in an email. “We strongly believe this...
SVMK reported first-quarter revenue guidance was below analysts’ forecasts. The survey software company expects revenue of $99.5 million to $101.5 million for the first quarter, compared to the FactSet analyst consensus estimate of $105 million. In the fourth quarter, the company generated adjusted earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.01 per share. This...
HubSpot got price target hikes from analysts, following quarterly earnings beat. On Thursday, the software solutions company posted adjusted earnings of 40 cents per share in the fourth quarter, (vs. 45 cents from the year-ago quarter), which is well above the Zacks analyst consensus of 23 cents. Revenue surged +35% year-over-year to $252.1 million. Morgan Stanley boosted its price target on...
Zynga shares got optimistic views from analysts on the company's latest earnings release. Bank of America's analyst Ryan Gee boosted rating on the online games company’s stock to neutral from underperform. He raised price target to $12 from $9.50 per share. Piper Sandler's Yung Kim raised price target to $13.50 from $12 per share. Kim said that “with a string of new titles poised to launch...
Uber Technologies fourth-quarter earnings missed analysts’ expectations, on pandemic-related drop in riders’ demand. But analysts boosted their one-year price targets as they expect better prospects. For the fourth quarter. Uber experienced a narrower loss, as strength in its food-delivery business (+130% year-over-year) to a large extent offset a decline of -50% in its ride-hailing business...
Uber Technologies narrowed its losses in the fourth quarter, as food delivery business strengthened. The ride-hailing company’s net loss per share attributable to holders came in at- 54 cents, compared to -64 cents a year earlier. Analysts polled by FactSet had anticipated a loss of -53 cents a share. Revenue for the quarter was $3.17 billion, lower than $3.75 billion a year earlier. Analysts...
Lyft reported revenue for the fourth quarter that exceeded analysts’ expectations. The ride-hailing company’s fourth-quarter revenue came in at $569.9 million, compared to $1 billion in the same period a year ago. Analysts polled by Factset expected revenue of $560.3 million. The company incurred a loss of -$150 million in adjusted earnings before interest, taxes, depreciation and...
On Tuesday, Uber Technologies Inc. said it agreed to acuire beer and wine delivery service Drizly for $1.1 billion. In the cash-and-stock deal, Drizly and its 1,400 U.S. locations will be part of Uber Eats division. But customers will be able to access the Drizly app. The deal is expected to close within the first half of 2021. Uber expects that more than 90% of the consideration to be paid...
SAP posted fourth-quarter 2020 non-IFRS earnings, which fell -7% year-over-year to €1.69 per share ($2.02). The Zacks Consensus Estimate for earnings was $2.00. The software company’s revenues fell -6% from the year-ago quarter to €7.541 billion ($8.993 billion), (down 2% constant currency or cc). The Zacks Consensus Estimate was $9.09 billion. Cloud revenues rose +7% year-over-year to €2.04...