$71.74 Million in Sales Expected for PLAYSTUDIOS, Inc. (NASDAQ:MYPS) This Quarter

Wall Street analysts predict that PLAYSTUDIOS, Inc. (NASDAQ:MYPSGet Rating) will post sales of $71.74 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for PLAYSTUDIOS’s earnings, with the highest sales estimate coming in at $73.90 million and the lowest estimate coming in at $70.62 million. PLAYSTUDIOS posted sales of $70.82 million in the same quarter last year, which indicates a positive year over year growth rate of 1.3%. 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 $305.11 million for the current financial year, with estimates ranging from $305.00 million to $305.30 million. For the next financial year, analysts expect that the company will report sales of $344.85 million, with estimates ranging from $343.70 million to $346.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow PLAYSTUDIOS.

PLAYSTUDIOS (NASDAQ:MYPSGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PLAYSTUDIOS had a negative net margin of 7.19% and a negative return on equity of 7.54%.

MYPS has been the subject of several research reports. Morgan Stanley increased their price objective on PLAYSTUDIOS to $5.20 and gave the company an “equal weight” rating in a report on Tuesday, May 17th. Oppenheimer reduced their price objective on PLAYSTUDIOS from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Finally, Zacks Investment Research lowered PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a report on Saturday, May 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.55.

Shares of NASDAQ MYPS opened at $6.48 on Thursday. The stock has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $4.66. PLAYSTUDIOS has a 1-year low of $3.60 and a 1-year high of $10.08. The firm has a market cap of $819.10 million, a price-to-earnings ratio of -34.11 and a beta of -1.56.

In related news, CEO Andrew S. Pascal acquired 11,400 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were purchased at an average price of $5.29 per share, for a total transaction of $60,306.00. Following the completion of the acquisition, the chief executive officer now owns 341,400 shares in the company, valued at $1,806,006. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew S. Pascal acquired 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was bought at an average price of $5.62 per share, for a total transaction of $60,134.00. Following the acquisition, the chief executive officer now owns 352,100 shares of the company’s stock, valued at approximately $1,978,802. The disclosure for this purchase can be found here. Insiders bought 161,900 shares of company stock valued at $788,639 over the last ninety days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of PLAYSTUDIOS in the second quarter worth about $661,000. Wells Fargo & Company MN bought a new stake in shares of PLAYSTUDIOS in the second quarter worth about $823,000. BlackRock Inc. bought a new stake in shares of PLAYSTUDIOS in the third quarter worth about $1,599,000. Citigroup Inc. grew its stake in shares of PLAYSTUDIOS by 247.0% in the third quarter. Citigroup Inc. now owns 10,409 shares of the company’s stock worth $47,000 after purchasing an additional 7,409 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of PLAYSTUDIOS by 874.3% in the third quarter. Geode Capital Management LLC now owns 578,567 shares of the company’s stock worth $2,638,000 after purchasing an additional 519,187 shares during the last quarter. Hedge funds and other institutional investors own 14.10% of the company’s stock.

PLAYSTUDIOS Company Profile (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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