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Yahoo BusinessAug 06, 2020
Zynga Rises On Record 2Q Revenues Fueled By Digital Gaming Demand
Shares of Zynga is advancing 3.4% in the pre-market session on Thursday after the mobile gaming company reported record second-quarter revenues. Its top-line results benefited from shelter-in-place directives amid COVID-19 pandemic which drove demand for digital games.Zynga's (ZNGA) revenue jumped 47% to $452 million year-over-year mainly due to a 61% increase in online game user-pay revenues. Furthermore, the company expects 3Q sales to grow 29% to $445 million year-over-year.Zynga's CEO Frank Gibeau said, "We delivered tremendous results in Q2, achieving our highest quarterly revenue and bookings and generating Zynga's best quarterly operating cash flow in more than eight years."Following the strong results, Robert W. Baird analyst Colin Sebastian raised his price target to $12 (19.2% upside potential) from $10, and maintained a Buy rating on the stock, saying that "Zynga continues to benefit from elevated levels of user engagement, with strong growth evident across the company's portfolio."Like Baird, Piper Sandler analyst Yung Kim raised the price target to $13 (29.1% upside potential) from $11, and reiterated a Buy rating. Kim believes that the momentum is building for Zynga "as it continues to benefit from its strong live services engine in the interim."Currently, ZNGA has a Moderate Buy analyst consensus. The average price target of $10.73 implies an upside potential of about 6.6%. (See ZNGA stock analysis on TipRanks).Related News: Zimmer Biomet Slips 3.7% On 2Q Profit Decline Fiverr Pops

Yahoo BusinessAug 06, 2020
Stock Rally Is Driving Billions Into Funds That Limit Losses
(Bloomberg) -- The darkening economic backdrop to the U.S. equity rally is translating into booming demand for a breed of young funds that promise to both share in gains and cushion losses.Investors have poured more than $2.2 billion this year into exchange-traded funds known as buffers, which seek to shield them against a certain percentage of declines in return for a cap on their potential upside.Fear of missing out on the S&P 500's march back toward a record combined with rising coronavirus cases is boosting the appeal of these defined-outcome products, reckons Bruce Bond at Innovator ETFs. The firm launched buffers in 2018, targeting retail investors and financial advisers looking to manage risk."They're just completely exposed to the tragedy and the upside of the market," said Bond, Innovator's chief executive officer. "The more sophisticated investors, they control that exposure."The good news for investors piling in is that so far this year, buffer funds have performed as promised.At the height of March volatility, the $246 million Innovator S&P 500 Power Buffer ETF, ticker POCT, was down 17.5% for the year compared with a 30% slump for the S&P 500. Five months later, the U.S. benchmark is up about 4% and the ETF has gained around 2.8%.While Innovator currently commands the lion's share of defined-outcome ETF assets, popularity and performance are breeding competition. Allianz Investment Management launched two buffers in June to complement its similarly structured variable annuity
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