Playtech (LON:PTEC) Share Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

Playtech plc (LON:PTEC) shares crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 356.98 and traded as low as GBX 349.40. Playtech shares last traded at GBX 349.40, with a volume of 19,547,037 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PTEC. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 405 price target on shares of Playtech in a research note on Thursday, July 9th. Citigroup upgraded shares of Playtech to a “buy” rating in a research note on Friday, July 10th.

Playtech Price Performance

The business has a 50-day moving average price of GBX 386.98 and a 200 day moving average price of GBX 357.87. The company has a market cap of £992.47 million, a price-to-earnings ratio of 39.69, a P/E/G ratio of 1.28 and a beta of 0.66. The company has a current ratio of 1.50, a quick ratio of 1.09 and a debt-to-equity ratio of 23.48.

Playtech Company Profile

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.