Playtika (NASDAQ:PLTK) Raised to Buy at Wall Street Zen

Playtika (NASDAQ:PLTK) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also issued reports on the company. Wedbush reissued an “outperform” rating and issued a $7.00 price objective on shares of Playtika in a report on Friday, October 31st. Weiss Ratings upgraded Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. UBS Group lowered their price target on Playtika from $5.50 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Finally, Loop Capital set a $3.75 price objective on shares of Playtika in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Playtika currently has an average rating of “Hold” and a consensus target price of $6.00.

Playtika Stock Performance

Playtika stock opened at $4.24 on Friday. The firm has a market capitalization of $1.59 billion, a P/E ratio of 17.67, a P/E/G ratio of 3.97 and a beta of 0.84. The company has a 50-day simple moving average of $3.84 and a 200-day simple moving average of $4.14. Playtika has a one year low of $3.31 and a one year high of $8.74.

Playtika (NASDAQ:PLTK) last posted its earnings results on Thursday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Playtika had a net margin of 3.16% and a negative return on equity of 114.44%. The firm had revenue of $674.60 million during the quarter, compared to analyst estimates of $669.60 million. During the same period in the previous year, the business posted $0.11 EPS. Playtika’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Playtika will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Playtika by 3.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 76,907 shares of the company’s stock worth $276,000 after acquiring an additional 2,670 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Playtika by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 106,151 shares of the company’s stock worth $502,000 after purchasing an additional 2,817 shares during the last quarter. R Squared Ltd raised its holdings in shares of Playtika by 29.3% in the 3rd quarter. R Squared Ltd now owns 13,017 shares of the company’s stock worth $51,000 after purchasing an additional 2,946 shares in the last quarter. Merit Financial Group LLC lifted its stake in Playtika by 17.2% during the third quarter. Merit Financial Group LLC now owns 23,085 shares of the company’s stock valued at $90,000 after purchasing an additional 3,381 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Playtika by 23.6% during the second quarter. Corient Private Wealth LLC now owns 24,446 shares of the company’s stock worth $116,000 after buying an additional 4,662 shares in the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

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.