The Goldman Sachs Group Lowers Playtika (NASDAQ:PLTK) Price Target to $4.25

Playtika (NASDAQ:PLTK) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $4.75 to $4.25 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 53.43% from the company’s previous close.

Several other brokerages also recently issued reports on PLTK. Citigroup lowered their price target on Playtika from $7.00 to $5.50 and set a “buy” rating for the company in a report on Friday, February 20th. Loop Capital set a $3.75 target price on Playtika in a research note on Monday, November 3rd. Wall Street Zen downgraded shares of Playtika from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Weiss Ratings upgraded shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Finally, Wedbush downgraded shares of Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 price objective for the company. in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.68.

Playtika Stock Performance

Shares of NASDAQ:PLTK opened at $2.77 on Monday. The company has a 50 day moving average price of $3.56 and a two-hundred day moving average price of $3.73. The company has a market capitalization of $1.05 billion, a PE ratio of -5.13, a PEG ratio of 1.88 and a beta of 0.85. Playtika has a 52 week low of $2.67 and a 52 week high of $5.59.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.96). Playtika had a negative return on equity of 211.76% and a negative net margin of 7.49%.The firm had revenue of $678.80 million for the quarter, compared to the consensus estimate of $660.32 million. During the same period in the prior year, the business earned ($0.04) earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Playtika will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in Playtika by 3.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 76,907 shares of the company’s stock worth $276,000 after buying an additional 2,670 shares in the last quarter. R Squared Ltd raised its holdings in Playtika by 29.3% during the third quarter. R Squared Ltd now owns 13,017 shares of the company’s stock worth $51,000 after acquiring an additional 2,946 shares in the last quarter. Merit Financial Group LLC raised its holdings in Playtika by 17.2% during the third quarter. Merit Financial Group LLC now owns 23,085 shares of the company’s stock worth $90,000 after acquiring an additional 3,381 shares in the last quarter. NorthCrest Asset Manangement LLC boosted 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, Greenwich Wealth Management LLC grew its stake in Playtika by 32.9% in the fourth quarter. Greenwich Wealth Management LLC now owns 16,361 shares of the company’s stock valued at $65,000 after purchasing an additional 4,049 shares in the last quarter. 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.