Playtika (NASDAQ:PLTK) Receives Outperform Rating from Wedbush

Playtika (NASDAQ:PLTK)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $11.50 price target on the stock. Wedbush’s price target suggests a potential upside of 45.75% from the company’s current price.

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

Playtika Price Performance

Playtika stock opened at $7.89 on Thursday. The stock has a market cap of $2.93 billion, a PE ratio of 14.35, a P/E/G ratio of 0.97 and a beta of 0.85. The stock’s fifty day moving average is $7.45 and its two-hundred day moving average is $7.61. Playtika has a 1-year low of $6.25 and a 1-year high of $10.28.

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

Institutional Investors Weigh In On Playtika

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in Playtika by 0.8% during the first quarter. Russell Investments Group Ltd. now owns 184,926 shares of the company’s stock worth $1,304,000 after purchasing an additional 1,495 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Playtika by 16.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 22,695 shares of the company’s stock worth $179,000 after purchasing an additional 3,265 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Playtika during the 2nd quarter worth approximately $31,000. Versant Capital Management Inc purchased a new stake in Playtika in the 2nd quarter valued at approximately $36,000. Finally, Allspring Global Investments Holdings LLC increased its position in Playtika by 16.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 37,726 shares of the company’s stock worth $297,000 after buying an additional 5,352 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

About Playtika

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.