Robert W. Baird Cuts Playtika (NASDAQ:PLTK) Price Target to $16.00

Playtika (NASDAQ:PLTKGet Rating) had its target price lowered by Robert W. Baird from $27.00 to $16.00 in a research note issued to investors on Wednesday, The Fly reports. Robert W. Baird’s target price would indicate a potential upside of 31.15% from the company’s previous close.

Several other brokerages have also issued reports on PLTK. Citigroup assumed coverage on Playtika in a research note on Sunday, March 20th. They issued a “neutral” rating and a $20.00 target price on the stock. BTIG Research reduced their target price on shares of Playtika from $29.00 to $22.00 in a research note on Tuesday, January 25th. Credit Suisse Group dropped their price target on shares of Playtika from $30.00 to $24.00 in a research note on Wednesday. The Goldman Sachs Group lowered shares of Playtika from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $27.00 to $22.00 in a research note on Tuesday, April 19th. Finally, Wedbush reiterated an “outperform” rating on shares of Playtika in a research report on Tuesday, February 15th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Playtika presently has a consensus rating of “Buy” and an average price target of $26.64.

Shares of PLTK stock opened at $12.20 on Wednesday. Playtika has a 12 month low of $11.57 and a 12 month high of $30.00. The firm has a market capitalization of $5.03 billion, a PE ratio of 16.05 and a beta of 0.16. The firm has a fifty day simple moving average of $17.95 and a two-hundred day simple moving average of $18.78.

Playtika (NASDAQ:PLTKGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $679.60 million during the quarter, compared to analysts’ expectations of $641.85 million. Playtika had a net margin of 11.94% and a negative return on equity of 61.32%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. Research analysts anticipate that Playtika will post 0.97 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. IndexIQ Advisors LLC bought a new stake in shares of Playtika during the 1st quarter worth $37,000. Boston Partners bought a new position in Playtika during the fourth quarter valued at approximately $62,000. Russell Investments Group Ltd. purchased a new position in shares of Playtika during the third quarter worth approximately $73,000. Gladius Capital Management LP purchased a new position in shares of Playtika during the first quarter worth approximately $140,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Playtika in the 1st quarter worth approximately $157,000. Hedge funds and other institutional investors own 20.08% of the company’s stock.

About Playtika (Get Rating)

Playtika Holding Corp. develops mobile games in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company owns a portfolio of casual and casino-themed games. It distributes its games to the end customer through various web and mobile platforms, such as Apple, Facebook, Google, and other web and mobile platforms and its own proprietary platforms.

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