Playtika (NASDAQ:PLTK) Rating Reiterated by Wedbush

Playtika (NASDAQ:PLTK)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report issued on Thursday, Benzinga reports. They presently have a $11.50 target price on the stock. Wedbush’s target price indicates a potential upside of 45.75% from the stock’s current price.

PLTK has been the topic of a number of other research reports. Roth Mkm dropped their price target on shares of Playtika from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Macquarie cut Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a report on Thursday, June 13th. Morgan Stanley increased their target price on Playtika from $7.40 to $8.25 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, UBS Group started coverage on Playtika in a research note on Monday, June 24th. They issued a “neutral” rating and a $8.50 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.29.

Playtika Price Performance

Shares of NASDAQ PLTK opened at $7.89 on Thursday. The firm’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $7.61. Playtika has a 12 month low of $6.25 and a 12 month high of $10.28. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.97 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The company had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $640.27 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts anticipate that Playtika will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Playtika

Hedge funds have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its stake in Playtika by 5.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 107,146 shares of the company’s stock worth $934,000 after buying an additional 5,544 shares during the period. Quest Partners LLC acquired a new stake in Playtika in the 4th quarter valued at approximately $353,000. Aigen Investment Management LP acquired a new position in Playtika during the fourth quarter worth $98,000. Commerce Bank purchased a new position in shares of Playtika during the fourth quarter worth $88,000. Finally, Alaska Permanent Fund Corp grew its stake in shares of Playtika by 362.8% in the first quarter. Alaska Permanent Fund Corp now owns 225,673 shares of the company’s stock valued at $1,591,000 after buying an additional 176,913 shares in the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.