Wedbush Comments on Playtika Holding Corp.’s FY2022 Earnings (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTKGet Rating) – Wedbush reduced their FY2022 earnings per share estimates for Playtika in a research note issued on Tuesday, May 10th. Wedbush analyst M. Pachter now expects that the company will post earnings of $0.69 per share for the year, down from their prior estimate of $0.90. Wedbush also issued estimates for Playtika’s FY2024 earnings at $1.09 EPS.

Playtika (NASDAQ:PLTKGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The business had revenue of $679.60 million during the quarter, compared to analyst estimates of $641.85 million. Playtika had a net margin of 13.58% and a negative return on equity of 71.45%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share.

Other equities analysts have also issued research reports about the company. Credit Suisse Group decreased their price target on Playtika from $30.00 to $24.00 in a research note on Wednesday. Robert W. Baird decreased their price target on Playtika from $27.00 to $16.00 in a research note on Wednesday. BTIG Research reduced their price objective on Playtika from $29.00 to $22.00 in a research report on Tuesday, January 25th. Citigroup began coverage on Playtika in a research report on Sunday, March 20th. They set a “neutral” rating and a $20.00 price objective on the stock. Finally, The Goldman Sachs Group lowered Playtika from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $27.00 to $22.00 in a research report on Tuesday, April 19th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $25.45.

Playtika stock opened at $13.00 on Friday. The stock’s fifty day moving average price is $17.83 and its two-hundred day moving average price is $18.73. Playtika has a one year low of $11.57 and a one year high of $30.00. The firm has a market cap of $5.36 billion, a PE ratio of 14.49 and a beta of 0.16.

Large investors have recently made changes to their positions in the company. IndexIQ Advisors LLC acquired a new position in shares of Playtika in the 1st quarter valued at about $37,000. Boston Partners acquired a new position in shares of Playtika in the 4th quarter valued at about $62,000. Russell Investments Group Ltd. acquired a new position in shares of Playtika in the 3rd quarter valued at about $73,000. MetLife Investment Management LLC acquired a new position in shares of Playtika in the 1st quarter valued at about $130,000. Finally, Gladius Capital Management LP acquired a new position in shares of Playtika in the 1st quarter valued at about $140,000. 20.08% of the stock is currently owned by institutional investors.

Playtika Company Profile (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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Earnings History and Estimates for Playtika (NASDAQ:PLTK)

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