Playtech (LON:PTEC) Trading 10.2% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PTEC shares. Jefferies Financial Group lowered Playtech to a “hold” rating and reduced their price target for the stock from GBX 405 to GBX 240 in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research report on Friday, January 23rd.

Playtech Price Performance

The company has a 50 day simple moving average of GBX 282.45 and a 200 day simple moving average of GBX 323.19. The company has a market capitalization of £992.89 million, a price-to-earnings ratio of 0.60, a price-to-earnings-growth 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.

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.