Zynga Inc (NASDAQ:ZNGA) has been receiving quite a few updates from analysts, following the filing of its 2Q2016 financial results. It should be noted here that ZNGA had met analyst expectations for its 2Q2016 earnings, as it posted earnings of -$0.03 per share. SPYR Inc (OTCMKTS:SPYR) on the other hand, has been actively involved in growing its gaming portfolio. Moreover, the company has been pursuing publishing deals, with Kemojo Studios being the latest addition. SPYR has a MMO game Pocket Starships and a free-to-play action combat game, Drone Wars, in its portfolio.
A total of 15 analysts were recently surveyed, about Zynga Inc and they awarded an average price target of $3 to the stock. ZNGA is currently trading at $2.65, 12% below the 12-month price target. Out of the 15 analysts, none of them see ZNGA as a sell, while 10 believe it is a hold. The company recorded revenues of $182 million, for its 2Q2016, beating analyst estimates of $169.5 million.
The CEO of ZNGA, Frank Gibeau, stated that a total of four new games were launched, during the 2Q2016, which had allowed company bookings to be near the high-end of Q2 guidance. Unfortunately, the company also saw a 7% decline in daily active users. Analysts at Zacks had announced that they would revise the hold rating of the stock, following the release.
SPYR has been, meanwhile, developing a portfolio of high-profile games, coupled with publishing deals to solidify its position in the industry. The company entered the market for digital games just a year ago and has made great progress so far.
The recent deal with Kemojo Studios concerns the highly anticipated game, Drone Wars. It is essentially a successor to Drone: Shadow Strike, which already has over 10 million players. Kemojo anticipates that a large portion of the 10 million players would want to experience Drone Wars as well, which it believes to be an even better game. However, SPYR is hoping that players, who try Drone Wars, would also give its other titles a shot as well.