Wall Street Zen Upgrades Playtika (NASDAQ:PLTK) to Buy

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

Several other brokerages also recently weighed in on PLTK. Weiss Ratings raised shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of Playtika in a research note on Friday, October 31st. Finally, Loop Capital set a $3.75 target price on Playtika in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.00.

Playtika Trading Down 1.4%

Shares of NASDAQ:PLTK opened at $3.51 on Friday. The stock has a 50 day moving average of $4.01 and a 200 day moving average of $3.98. The company has a market cap of $1.32 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.05 and a beta of 0.84. Playtika has a 12-month low of $3.31 and a 12-month high of $7.58.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $674.60 million for the quarter, compared to the consensus estimate of $669.60 million. Playtika had a net margin of 3.16% and a negative return on equity of 114.44%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Equities research analysts predict that Playtika will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently added to or reduced their stakes in the company. Earned Wealth Advisors LLC purchased a new stake in shares of Playtika during the 4th quarter worth approximately $46,000. Pallas Capital Advisors LLC increased its position in Playtika by 117.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 34,117 shares of the company’s stock worth $135,000 after purchasing an additional 18,459 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Playtika by 49.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 114,955 shares of the company’s stock valued at $452,000 after purchasing an additional 38,048 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in Playtika by 27.6% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 16,300 shares of the company’s stock valued at $66,000 after purchasing an additional 3,524 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its stake in shares of Playtika by 18.9% in the 4th quarter. CWA Asset Management Group LLC now owns 524,497 shares of the company’s stock worth $2,072,000 after buying an additional 83,370 shares in the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

About Playtika

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.