Playtika (NASDAQ:PLTK) Stock Price Expected to Rise, Wedbush Analyst Says

Playtika (NASDAQ:PLTK) had its price objective hoisted by analysts at Wedbush from $3.00 to $4.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock.

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

Playtika Stock Performance

PLTK opened at $4.00 on Monday. The firm has a market cap of $1.52 billion, a P/E ratio of -5.19 and a beta of 1.09. Playtika has a 52-week low of $2.64 and a 52-week high of $4.52. The business’s fifty day moving average is $3.66 and its 200-day moving average is $3.42.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $744.70 million during the quarter, compared to analyst estimates of $694.68 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts predict that Playtika will post 0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Playtika

Institutional investors have recently added to or reduced their stakes in the stock. Amundi boosted its position in Playtika by 160.0% in the first quarter. Amundi now owns 51,366 shares of the company’s stock valued at $256,000 after buying an additional 31,607 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 lifted its stake 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 boosted its holdings in shares of Playtika by 143.3% during the 2nd quarter. Creative Planning now owns 28,089 shares of the company’s stock valued at $133,000 after acquiring an additional 16,546 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Playtika by 126.5% during the 2nd 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 last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

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.