PLAYSTUDIOS (NASDAQ:MYPS) Price Target Cut to $4.50

PLAYSTUDIOS (NASDAQ:MYPSGet Rating) had its target price reduced by research analysts at Morgan Stanley from $4.70 to $4.50 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 3.69% from the company’s current price.

PLAYSTUDIOS Price Performance

Shares of NASDAQ:MYPS opened at $4.34 on Wednesday. The firm has a fifty day moving average price of $3.98 and a two-hundred day moving average price of $3.92. PLAYSTUDIOS has a one year low of $3.24 and a one year high of $6.60. The company has a market cap of $563.70 million, a price-to-earnings ratio of -31.00, a PEG ratio of 14.11 and a beta of 0.10.

PLAYSTUDIOS (NASDAQ:MYPSGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). PLAYSTUDIOS had a negative net margin of 5.47% and a negative return on equity of 3.10%. The firm had revenue of $72.13 million during the quarter, compared to the consensus estimate of $67.53 million. Equities research analysts expect that PLAYSTUDIOS will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of PLAYSTUDIOS by 632.2% during the 1st quarter. Citigroup Inc. now owns 138,523 shares of the company’s stock worth $672,000 after acquiring an additional 119,604 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PLAYSTUDIOS by 3.0% during the 1st quarter. BlackRock Inc. now owns 369,565 shares of the company’s stock worth $1,793,000 after acquiring an additional 10,638 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PLAYSTUDIOS by 226.9% during the 1st quarter. Vanguard Group Inc. now owns 3,470,102 shares of the company’s stock worth $16,830,000 after acquiring an additional 2,408,631 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of PLAYSTUDIOS during the 1st quarter worth $2,828,000. Finally, Clearbridge Investments LLC lifted its holdings in shares of PLAYSTUDIOS by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,514,113 shares of the company’s stock worth $7,343,000 after acquiring an additional 4,765 shares during the last quarter. 23.07% of the stock is owned by institutional investors.

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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