Playtika (NASDAQ:PLTK – Get Rating) had its price target lowered by stock research analysts at Cowen from $35.00 to $31.00 in a report released Friday, The Fly reports. Cowen’s price target points to a potential increase of 163.38% from the company’s previous close.
Several other stock analysts also recently commented on the stock. The Goldman Sachs Group downgraded Playtika’s rating from a “buy” to a “neutral” rating and lowered its price target for the stock from $27.00 to $22.00 in a report on Tuesday, April 19. Morgan Stanley lowered its price target on Playtika shares from $23.00 to $21.00 and stated an “overweight” rating for the stock in a report on Monday, June 13. Robert W. Baird lowered his price target on Playtika shares from $27.00 to $16.00 in a report on Wednesday, May 11. Credit Suisse Group lowered its price target on Playtika’s shares from $30.00 to $24.00 in a report on Wednesday, May 11. Finally, Citigroup lowered its price target on Playtika’s shares from $17.00 to $15.00 and stated a “neutral” rating on the stock in a report on Thursday, July 7. Three research analysts have given the stock a hold rating and seven have given the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.04.
Playtika Price Performance
Shares of NASDAQ:PLTK opened Friday at $11.77. Playtika has a 1-year low of $11.35 and a one-year high of $30.00. The company has a market cap of $4.85 billion, a P/E ratio of 15.91 and a beta of 0.20. The company’s 50-day simple moving average is $13.21 and its two-hundred-day simple moving average is $15.87.
Playtika (NASDAQ:PLTK – Get Rating) last released its quarterly results on Tuesday, May 10. The company reported earnings per share of $0.20 for the quarter, missing the consensus estimate of $0.22 by ($0.02). Playtika had a net margin of 11.54% and a negative return on equity of 80.59%. The company had revenue of $679.60 million for the quarter, compared to analyst expectations of $641.85 million. During the same period last year, the company earned $0.17 EPS. Playtika’s sales for the quarter were 6.4% higher than in the same quarter last year. On average, sell-side analysts expect Playtika to post 0.77 EPS for the current fiscal year.
Institutional inflow and outflow
A number of hedge funds have recently bought and sold shares of PLTK. IndexIQ Advisors LLC bought a new position in Playtika worth $37,000 in the first quarter. Boston Partners bought a new position in Playtika worth $62,000 in the fourth quarter. Exchange Traded Concepts LLC increased its position in Playtika by 17.6% during the second quarter. Exchange Traded Concepts LLC now owns 9,110 shares of the company worth $121,000, after acquiring an additional 1,365 shares in the last quarter. New York State Teachers Retirement System increased its position in Playtika by 13.6% during the second quarter. New York State Teachers Retirement System now owns 9,200 shares of the company worth $122,000, after acquiring an additional 1,100 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in Playtika worth $130,000 in the first quarter. Institutional investors own 20.08% of the company’s stock.
Playtika company profile
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Playtika Holding Corp. develops mobile games in the United States, Europe, the Middle East, Africa, Asia-Pacific, and internationally. The company owns a portfolio of casual and casino themed games. It distributes its games to the end customer through various web and mobile platforms such as Apple, Facebook, Google and other web and mobile platforms and its own proprietary platforms.
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