Playtika (NASDAQ:PLTK) Rating Reiterated by Wedbush

Playtika (NASDAQ:PLTK)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $11.50 target price on the stock. Wedbush’s price objective indicates a potential upside of 47.06% from the stock’s previous close.

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

Playtika Price Performance

Shares of NASDAQ:PLTK opened at $7.82 on Thursday. The company’s fifty day moving average price is $7.47 and its 200 day moving average price is $7.62. Playtika has a 12 month low of $6.25 and a 12 month high of $10.28. The firm has a market capitalization of $2.91 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.01 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced 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 for the quarter, compared to analyst estimates of $640.27 million. During the same period last year, the business earned $0.21 EPS. Playtika’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Playtika will post 0.73 EPS for the current year.

Institutional Trading of Playtika

Several institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in shares of Playtika in the second quarter valued at about $159,000. Ariadne Wealth Management LP purchased a new position in shares of Playtika during the second quarter valued at approximately $82,000. Susquehanna Fundamental Investments LLC lifted its stake in shares of Playtika by 365.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 171,603 shares of the company’s stock valued at $1,351,000 after buying an additional 134,732 shares during the period. AQR Capital Management LLC lifted its stake in shares of Playtika by 66.6% during the second quarter. AQR Capital Management LLC now owns 7,836,383 shares of the company’s stock valued at $61,672,000 after buying an additional 3,132,272 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Playtika during the second quarter valued at approximately $398,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

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.