Playtika (NASDAQ:PLTK) Earns Outperform Rating from Wedbush

Playtika (NASDAQ:PLTK)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They currently have a $11.50 price objective on the stock. Wedbush’s price target points to a potential upside of 47.06% from the stock’s current price.

Several other equities analysts have also commented on the stock. Roth Mkm dropped their price target on shares of Playtika from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley increased their price objective on shares of Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Macquarie lowered shares of Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Thursday, June 13th. Finally, UBS Group began coverage on shares of Playtika in a research report on Monday, June 24th. They issued a “neutral” rating and a $8.50 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.29.

Playtika Stock Performance

Shares of PLTK stock opened at $7.82 on Thursday. Playtika has a one year low of $6.25 and a one year high of $10.28. The company has a 50 day moving average price of $7.47 and a 200 day moving average price of $7.62. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $640.27 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. Playtika’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Playtika will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Playtika during the 2nd quarter valued at $31,000. Versant Capital Management Inc bought a new position in Playtika during the 2nd quarter valued at $36,000. Acadian Asset Management LLC bought a new position in Playtika during the 2nd quarter valued at $43,000. Headlands Technologies LLC boosted its stake in Playtika by 648.8% during the 2nd quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock valued at $53,000 after acquiring an additional 5,794 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Playtika during the 1st quarter valued at $82,000. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.