PLAYSTUDIOS (NASDAQ:MYPS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

PLAYSTUDIOS (NASDAQ:MYPS) issued its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01, Zacks reports. PLAYSTUDIOS had a negative return on equity of 6.73% and a negative net margin of 5.64%. The business had revenue of $72.59 million for the quarter, compared to analyst estimates of $73.49 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share.

PLAYSTUDIOS Stock Down 3.2 %

Shares of NASDAQ:MYPS traded down $0.06 during mid-day trading on Wednesday, reaching $1.66. 15,924 shares of the stock were exchanged, compared to its average volume of 280,092. The company has a market cap of $223.10 million, a P/E ratio of -13.15, a P/E/G ratio of 7.07 and a beta of 0.63. PLAYSTUDIOS has a one year low of $1.58 and a one year high of $4.01. The stock’s 50 day simple moving average is $2.13 and its 200-day simple moving average is $2.28.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MYPS. Northland Securities cut their target price on PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday. Benchmark downgraded PLAYSTUDIOS from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Craig Hallum downgraded PLAYSTUDIOS from a “buy” rating to a “hold” rating and lowered their price target for the stock from $4.00 to $2.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.75.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.