Playtech (LON:PTEC) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Playtech plc (LON:PTEC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 320.80 and traded as high as GBX 346.50. Playtech shares last traded at GBX 339, with a volume of 616,614 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on PTEC. Deutsche Bank Aktiengesellschaft cut their target price on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday, January 23rd. Jefferies Financial Group downgraded Playtech to a “hold” rating and dropped their price objective for the stock from GBX 405 to GBX 240 in a research note on Tuesday, November 25th.

Playtech Trading Up 0.9%

The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The firm has a fifty day moving average price of GBX 289.43 and a 200 day moving average price of GBX 320.80. The company has a market cap of £966.05 million, a price-to-earnings ratio of 0.59, a P/E/G ratio of 1.28 and a beta of 1.26.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.