Playtech (LON:PTEC) Trading 10.2% Higher – Should You Buy?

Playtech plc (LON:PTEC)’s stock price shot up 10.2% during mid-day trading on Tuesday . The company traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Analyst Upgrades and Downgrades

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

Playtech Stock Performance

The company has a market cap of £992.89 million, a PE ratio of 0.60, a P/E/G ratio of 1.28 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The stock’s 50 day simple moving average is GBX 283.77 and its two-hundred day simple moving average is GBX 322.89.

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.