Playtika (NASDAQ:PLTK) Price Target Raised to $4.00

Playtika (NASDAQ:PLTK) had its target price raised by Wedbush from $3.00 to $4.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on the company. Roth Capital boosted their price target on Playtika from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating on shares of Playtika in a research report on Tuesday, June 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.17.

Playtika Price Performance

Playtika stock opened at $3.89 on Monday. Playtika has a 1-year low of $2.64 and a 1-year high of $4.47. The business has a fifty day moving average price of $3.69 and a 200-day moving average price of $3.43. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -5.05 and a beta of 1.09.

Playtika (NASDAQ:PLTK) last announced its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.22). Playtika had a negative net margin of 10.54% and a negative return on equity of 67.46%. The business had revenue of $744.70 million for the quarter, compared to analyst estimates of $694.68 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Playtika will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Playtika

A number of institutional investors and hedge funds have recently modified their holdings of PLTK. Amundi increased its holdings in Playtika by 160.0% in the 1st quarter. Amundi now owns 51,366 shares of the company’s stock worth $256,000 after buying an additional 31,607 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Playtika by 12.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,781 shares of the company’s stock valued at $531,000 after acquiring an additional 11,650 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Playtika by 536.3% in the 1st quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock valued at $7,003,000 after acquiring an additional 1,141,685 shares during the last quarter. Creative Planning increased its stake in shares of Playtika by 143.3% in the second quarter. Creative Planning now owns 28,089 shares of the company’s stock worth $133,000 after acquiring an additional 16,546 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Playtika by 126.5% in the second quarter. JPMorgan Chase & Co. now owns 399,067 shares of the company’s stock worth $1,888,000 after acquiring an additional 222,913 shares during the period. Institutional investors and hedge funds own 11.94% of the company’s stock.

About Playtika

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.