Playtika (NASDAQ:PLTK) Raised to Buy at Wall Street Zen

Playtika (NASDAQ:PLTK) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also recently weighed in on PLTK. Weiss Ratings raised shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Loop Capital set a $3.75 price target on Playtika in a research note on Monday, November 3rd. Wedbush reissued an “outperform” rating and issued a $7.00 price target on shares of Playtika in a report on Friday, October 31st. Finally, UBS Group dropped their price objective on Playtika from $5.50 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Playtika Stock Performance

PLTK stock opened at $4.24 on Friday. The firm has a market cap of $1.59 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 3.97 and a beta of 0.84. The stock has a 50-day simple moving average of $3.84 and a 200-day simple moving average of $4.14. Playtika has a 1 year low of $3.31 and a 1 year high of $8.74.

Playtika (NASDAQ:PLTK) last posted its earnings results on Thursday, November 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $674.60 million for the quarter, compared to analysts’ expectations of $669.60 million. Playtika had a net margin of 3.16% and a negative return on equity of 114.44%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. On average, equities research analysts predict that Playtika will post 0.65 EPS for the current year.

Institutional Investors Weigh In On Playtika

A number of institutional investors have recently made changes to their positions in PLTK. AQR Capital Management LLC lifted its stake in Playtika by 65.7% during the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock worth $29,630,000 after purchasing an additional 2,511,228 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Playtika by 20.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock worth $15,455,000 after acquiring an additional 679,564 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Playtika by 19.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock worth $17,541,000 after acquiring an additional 595,494 shares during the last quarter. Vanguard Group Inc. boosted its stake in Playtika by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,610,729 shares of the company’s stock valued at $18,667,000 after acquiring an additional 137,482 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Playtika by 6.4% during the first quarter. The Manufacturers Life Insurance Company now owns 3,113,062 shares of the company’s stock valued at $16,095,000 after purchasing an additional 186,208 shares during the last quarter. 11.94% of the stock is currently owned by institutional investors.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.