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Today’s Research Reports on Stocks to Watch: Zynga and Blackbaud

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / October 10, 2018 / Zynga shares were temporarily halted on news that the company has received takeover interest from a rival. The company has declined to comment on the rumors, but shares saw their biggest intra-day gain in about four years on the report. Shares of Blackbaud were in the red after the cloud software company lowered its full-year 2018 guidance.

RDI Initiates Coverage on:

Zynga Inc.
https://rdinvesting.com/news/?ticker=ZNGA

Blackbaud, Inc.
https://rdinvesting.com/news/?ticker=BLKB

Zynga Inc. shares were up 12.37% on about 63 million shares traded on Tuesday. Average trading volume for the stock is just under 9.8 million shares. The big gains came after a Bloomberg report revealed that the company has received takeover interest from rivals. The video game maker had seen its shares temporarily halted after jumping 5% on the report. Bloomberg said the takeover interest is from an unnamed rival. "We do not comment on rumors," a Zynga spokeswoman said in an email to MarketWatch. The stock gained as much as 16% on the report, the biggest intra-day move for the company since 2014. It was this past August that the company announced a multi-year licensing deal with Walt Disney Co. to develop and publish a mobile game based on the Star Wars film franchise. According to Zynga's website, over 1 billion people have played games developed by the company.

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Access RDI’s Zynga Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ZNGA

Blackbaud, Inc. shares closed down a little over 14% yesterday on about 3.6 million shares traded. The stock hit a new low of $69.62 after issuing guidance that had Wall Street concerned. The maker of fundraising software used by non-profits said on Monday evening that it would miss on previously communicated guidance. For full-year 2018, Blackbaud is now expecting revenue in the range of $844 million to $854 million. Previously the company had expected revenue in the range of $870 million to $890 million. Operating margin is now expected to be in the range of 19.3% to 19.6% versus the previous expectation of 20.6% to 21%. Earnings per share has been lowered to an expected $2.46 to $2.52 range when before the company anticipated $2.75 to $2.88 a share. The cloud software company had reported reasonably good second quarter results that were mixed.

Access RDI’s Blackbaud, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=BLKB

Our Actionable Research on Zynga Inc. (NASDAQ: ZNGA) and Blackbaud, Inc. (NASDAQ: BLKB) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com



View source version on accesswire.com:
https://www.accesswire.com/513796/Todays-Research-Reports-on-Stocks-to-Watch-Zynga-and-Blackbaud



View source version on accesswire.com:
https://www.accesswire.com/513796/Todays-Research-Reports-on-Stocks-to-Watch-Zynga-and-Blackbaud