Analysts Anticipate PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Will Post Quarterly Sales of $74.64 Million

Wall Street analysts expect PLAYSTUDIOS, Inc. (NASDAQ:MYPSGet Rating) to announce $74.64 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for PLAYSTUDIOS’s earnings, with estimates ranging from $74.30 million to $74.91 million. PLAYSTUDIOS reported sales of $70.82 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.4%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that PLAYSTUDIOS will report full year sales of $314.28 million for the current financial year, with estimates ranging from $312.00 million to $316.84 million. For the next financial year, analysts anticipate that the firm will post sales of $354.79 million, with estimates ranging from $353.20 million to $356.37 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for PLAYSTUDIOS.

PLAYSTUDIOS (NASDAQ:MYPSGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). PLAYSTUDIOS had a negative return on equity of 7.48% and a negative net margin of 7.19%. The business had revenue of $71.93 million during the quarter, compared to the consensus estimate of $69.89 million.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 7th. Oppenheimer dropped their price target on PLAYSTUDIOS from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.56.

MYPS stock opened at $4.37 on Thursday. PLAYSTUDIOS has a 1-year low of $3.60 and a 1-year high of $10.08. The company has a market capitalization of $552.39 million, a price-to-earnings ratio of -23.00, a PEG ratio of 7.95 and a beta of -1.56. The business has a 50 day simple moving average of $4.90 and a two-hundred day simple moving average of $4.55.

In related news, CEO Andrew S. Pascal purchased 29,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were bought at an average price of $4.20 per share, for a total transaction of $123,900.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew S. Pascal purchased 10,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were bought at an average price of $6.00 per share, for a total transaction of $60,600.00. Following the acquisition, the chief executive officer now directly owns 315,700 shares in the company, valued at approximately $1,894,200. The disclosure for this purchase can be found here. Insiders have bought a total of 192,800 shares of company stock worth $914,769 over the last ninety days.

Large investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its holdings in PLAYSTUDIOS by 57.2% during the 3rd quarter. Penserra Capital Management LLC now owns 8,390 shares of the company’s stock valued at $38,000 after buying an additional 3,054 shares during the period. National Asset Management Inc. purchased a new stake in PLAYSTUDIOS during the 3rd quarter valued at $48,000. Granite Point Capital Management L.P. purchased a new stake in PLAYSTUDIOS during the 3rd quarter valued at $172,000. Senvest Management LLC purchased a new stake in PLAYSTUDIOS in the third quarter worth $1,119,000. Finally, Glynn Capital Management LLC bought a new stake in shares of PLAYSTUDIOS during the fourth quarter worth $134,000. Institutional investors own 14.10% of the company’s stock.

About PLAYSTUDIOS (Get Rating)

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States, North America, and internationally. The company is headquartered in Las Vegas, Nevada.

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