Playtech (LON:PTEC) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Playtech plc (LON:PTEC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 318.38 and traded as high as GBX 371.50. Playtech shares last traded at GBX 367.50, with a volume of 1,022,617 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on PTEC. Jefferies Financial Group downgraded shares of Playtech to a “hold” rating and decreased 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 objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday, January 23rd.

Playtech Stock Performance

The firm has a market capitalization of £1.03 billion, a price-to-earnings ratio of 0.63, 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. The stock’s 50-day moving average is GBX 297.26 and its 200-day moving average is GBX 318.38.

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.