Playtech (LON:PTEC) Given New GBX 400 Price Target at Citigroup

Playtech (LON:PTEC) had its price target hoisted by Citigroup from GBX 355 to GBX 400 in a research note published on Monday morning,London Stock Exchange reports. They currently have a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft lowered their price target on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research note on Friday, January 23rd.

Playtech Stock Up 1.5%

Shares of PTEC opened at GBX 324.71 on Monday. The company has a debt-to-equity ratio of 24.36, a quick ratio of 1.09 and a current ratio of 1.42. The company has a 50-day simple moving average of GBX 329.16 and a 200-day simple moving average of GBX 307.09. Playtech has a 52 week low of GBX 210 and a 52 week high of GBX 447. The firm has a market capitalization of £917.22 million, a P/E ratio of 0.56, a P/E/G ratio of 1.28 and a beta of 0.64.

Playtech announced that its board has authorized a share buyback plan on Friday, March 27th that allows the company to buyback 5,660,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.