Zynga: Relative Bargain Trading Below Peers
Zynga reported a strong quarter and boosted '19 bookings by $46 million.
The mobile game developer continues to boost revenues per share by acquiring gaming assets on the cheap with massive cash balances.
The stock remains cheap at 3.1x EV/20 revenue estimates.
Despite Zynga (NASDAQ:ZNGA) thriving in the last few years, the stock valuation still trades below peer stocks. The recent Q3 results were another prime example of the market virtually ignoring the improvements ongoing at the mobile game developer. The stock remains a bargain at 3.1x EV/20 revenues in an industry where larger, slower growing players trade at 5.0x valuation multiples.
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