Analysts Set PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Target Price at $2.80

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.80.

A number of research firms have issued reports on MYPS. Macquarie cut their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Craig Hallum upgraded shares of PLAYSTUDIOS from a “hold” rating to a “buy” rating and lifted their price target for the company from $2.00 to $3.00 in a research report on Friday, May 23rd. Finally, Benchmark upgraded PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 price target for the company in a research note on Tuesday, May 6th.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock opened at $1.35 on Thursday. The company has a market capitalization of $168.86 million, a price-to-earnings ratio of -7.11, a PEG ratio of 17.60 and a beta of 0.89. PLAYSTUDIOS has a 12 month low of $1.14 and a 12 month high of $2.46. The stock’s 50 day moving average is $1.35 and its 200-day moving average is $1.62.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $62.71 million for the quarter, compared to analyst estimates of $64.45 million. PLAYSTUDIOS had a negative return on equity of 9.15% and a negative net margin of 8.75%. As a group, equities research analysts predict that PLAYSTUDIOS will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Scott Edward Peterson sold 29,601 shares of PLAYSTUDIOS stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total value of $37,297.26. Following the transaction, the chief financial officer now owns 504,397 shares in the company, valued at approximately $635,540.22. This trade represents a 5.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.29% of the company’s stock.

Institutional Trading of PLAYSTUDIOS

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its holdings in shares of PLAYSTUDIOS by 18.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock worth $4,430,000 after acquiring an additional 368,879 shares during the last quarter. Mackenzie Financial Corp lifted its stake in PLAYSTUDIOS by 118.5% in the 1st quarter. Mackenzie Financial Corp now owns 575,737 shares of the company’s stock valued at $731,000 after purchasing an additional 312,286 shares during the last quarter. Nuveen LLC acquired a new stake in PLAYSTUDIOS in the first quarter valued at approximately $277,000. Strs Ohio bought a new stake in shares of PLAYSTUDIOS during the first quarter worth $209,000. Finally, Jane Street Group LLC acquired a new position in shares of PLAYSTUDIOS during the first quarter worth $203,000. 37.52% of the stock is currently owned by institutional investors.

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.