Citigroup Issues Pessimistic Forecast for Playtika (NASDAQ:PLTK) Stock Price

Playtika (NASDAQ:PLTK) had its target price dropped by analysts at Citigroup from $3.50 to $3.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price target indicates a potential upside of 52.67% from the stock’s current price.

A number of other analysts have also recently weighed in on PLTK. Roth Capital decreased their price target on shares of Playtika from $3.50 to $2.75 and set a “neutral” rating for the company in a research report on Monday, August 31st. Wall Street Zen lowered Playtika from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. The Goldman Sachs Group set a $3.75 price objective on Playtika in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Playtika in a research note on Wednesday, August 26th. Finally, Wedbush upped their target price on Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.58.

Playtika Trading Down 3.7%

PLTK traded down $0.07 during trading on Thursday, hitting $1.97. 634,123 shares of the company’s stock were exchanged, compared to its average volume of 1,535,977. Playtika has a 1 year low of $1.96 and a 1 year high of $4.42. The stock has a 50 day moving average price of $2.22 and a 200 day moving average price of $3.10. The firm has a market cap of $749.49 million, a P/E ratio of -2.69 and a beta of 1.07.

Institutional Trading of Playtika

Large investors have recently modified their holdings of the business. Independent Financial Group LLC acquired a new position in shares of Playtika in the first quarter worth about $28,000. Sanctuary Advisors LLC acquired a new position in shares of Playtika in the 2nd quarter valued at approximately $43,000. Pallas Capital Advisors LLC purchased a new position in shares of Playtika during the 2nd quarter valued at approximately $45,000. Bull Harbor Capital LLC acquired a new stake in shares of Playtika during the first quarter worth approximately $50,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Playtika during the third quarter worth approximately $52,000. 11.94% of the stock is currently owned by institutional investors and hedge funds.

About Playtika

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and web games. Its business focuses on social casino, casual, and other interactive gaming experiences that generate revenue through in-game purchases and advertising.

Playtika’s portfolio has included widely recognized titles such as Slotomania, Bingo Blitz, House of Fun, Caesars Slots, and World Series of Poker. The company uses data analytics, live-operations capabilities, and ongoing content updates to engage players and support the long-term performance of its games.

Founded in 2010, Playtika initially helped pioneer free-to-play social casino gaming on social networks and later expanded into mobile platforms.