PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Receives Average Recommendation of “Hold” from Analysts

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $2.00.

Several analysts have recently weighed in on MYPS shares. Wall Street Zen cut PLAYSTUDIOS from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Benchmark cut their target price on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its holdings in PLAYSTUDIOS by 16.5% in the second quarter. Los Angeles Capital Management LLC now owns 174,479 shares of the company’s stock worth $229,000 after acquiring an additional 24,715 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of PLAYSTUDIOS during the third quarter worth approximately $30,000. Williams & Novak LLC lifted its holdings in shares of PLAYSTUDIOS by 68.7% in the 3rd quarter. Williams & Novak LLC now owns 82,450 shares of the company’s stock worth $79,000 after purchasing an additional 33,590 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in PLAYSTUDIOS in the 2nd quarter valued at $49,000. Finally, Franklin Resources Inc. acquired a new stake in PLAYSTUDIOS in the 3rd quarter valued at $46,000. Institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Price Performance

Shares of PLAYSTUDIOS stock opened at $0.63 on Thursday. The company’s 50 day moving average price is $0.65 and its two-hundred day moving average price is $0.88. The firm has a market capitalization of $79.38 million, a P/E ratio of -2.17 and a beta of 0.89. PLAYSTUDIOS has a fifty-two week low of $0.57 and a fifty-two week high of $1.91.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm had revenue of $57.65 million during the quarter, compared to the consensus estimate of $58.77 million. PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. On average, analysts expect that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.