The acquisition of Zynga (ZNGA) by Take-Two Interactive Software (TTWO) for $12.7 billion in a cash plus stock deal. Under the terms of the agreement, Zynga stockholders will receive $3.50 in cash and $6.361 in shares of Take-Two common stock for each share of Zynga common stock outstanding at the closing.
What happened to Zynga shares in 2022?
Shares of Zynga, whose social games include "Word With Friends," had started 2022 by losing ground. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Should you buy Zynga stock?
Answer: If you buy and hold Zynga stock, the expectation is over time the near-term fluctuations will cancel out, and the long-term positive trend will favor you-at least if the company is otherwise strong.
What happened to Zynga stock before the opening bell?
Zynga jumped as much as 54% to $9.21 before Monday's opening. The stock had been down by about 6% so far in 2022. Take-Two shares dropped by 11% ahead of the opening bell.
Will ZNGA stock remain sideways in the near term?
So, if this follows its historical pattern, ZNGA stock may remain sideways in the near term. However, given that the stock is undervalued with a large upside potential, we still find the current levels to be attractive.
What will happen to Zynga stock?
Shares of Zynga will cease trading after the market close on May 20, 2022, and following the closing, Zynga will no longer be listed on the NASDAQ exchange.
What does Zynga acquisition mean for shareholders?
Zynga stock (ZNGA) is up 1.1% to $8.55. The terms of the merger deal mean that Zynga stockholders will be entitled at closing to $3.50 in cash and 0.0406 shares of Take-Two common stock for each share of Zynga owned. Take-Two stock (TTWO) is up 1.6%.
Should I hold or sell Zynga stock?
17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Zynga in the last year. There are currently 11 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" Zynga stock.
Who bought Zynga?
Take-TwoTake-Two has officially completed its $12.7 billion deal for social game developer Zynga, the two companies announced Monday. With the acquisition, Take-Two not only takes ownership of big Zynga franchises like FarmVille but also gets access to Zynga's expertise building hugely popular free-to-play mobile games.
Will Zynga stock go up?
Zynga Inc - Class A quote is equal to 8.180 USD at 2022-06-15. Based on our forecasts, a long-term increase is expected, the "ZNGA" stock price prognosis for 2027-05-19 is 13.417 USD. With a 5-year investment, the revenue is expected to be around +64.03%. Your current $100 investment may be up to $164.03 in 2027.
Will Zynga get bought out?
Take-Two Interactive has officially acquired social and mobile gaming company Zynga. The $12.7 billion acquisition, announced in January, was completed Monday. The combined company will bring a new slate of popular games to Take-Two, including Zynga's Farmville, Words with Friends and Zynga Poker.
Is Zynga a strong buy?
The management also raised its full-year outlook and it has new game launches slated for Q4 and 2022, which, along with its Chartboost acquisition this year, is likely to bolster the top and bottom line growth going forward.
Is Zynga a good buy Zacks?
Zacks' proprietary data indicates that Zynga Inc. is currently rated as a Zacks Rank 3 and we are expecting an inline return from the ZNGA shares relative to the market in the next few months.
Is Zynga a takeover target?
January's Tech-Stock Winners Are the Takeover Targets Like Activision, Zynga | Barron's.
Why did Take 2 buy Zynga?
The acquisition allows Take-Two to diversify its audience immediately and expand its global reach.” It seems like the key motivator behind this purchase was Zynga's expertise in mobile gaming, which other major players like Activision and EA have already spent years moving in on.
What's the price of Zynga stock?
ZNGA - Zynga Inc.Previous Close8.35Bid8.18 x 1800Ask8.20 x 36900Day's Range8.14 - 8.4352 Week Range5.57 - 11.253 more rows