Playtech (LON:PTEC) Trading 10.2% Higher – Time to Buy?

Playtech plc (LON:PTEC)’s share price shot up 10.2% during mid-day trading on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

PTEC has been the subject of several research reports. Jefferies Financial Group lowered shares of Playtech to a “hold” rating and reduced their price objective for the company from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased 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.

Playtech Stock Up 10.2%

The firm has a 50-day moving average of GBX 282.45 and a two-hundred day moving average of GBX 323.19. The firm has a market cap of £992.89 million, a price-to-earnings ratio of 0.60, a PEG ratio of 1.28 and a beta of 1.26. The company has a current ratio of 1.55, a quick ratio of 1.09 and a debt-to-equity ratio of 40.06.

About Playtech

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.