Citigroup Has Lowered Expectations for Playtika (NASDAQ:PLTK) Stock Price

Playtika (NASDAQ:PLTK) had its price objective decreased by stock analysts at Citigroup from $7.00 to $5.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 58.50% from the company’s previous close.

Several other equities research analysts have also commented on PLTK. Wall Street Zen lowered Playtika from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Loop Capital set a $3.75 price target on Playtika in a research report on Monday, November 3rd. Wedbush restated an “outperform” rating and issued a $7.00 price objective on shares of Playtika in a report on Friday, October 31st. Finally, Weiss Ratings raised shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Playtika currently has an average rating of “Hold” and an average target price of $5.56.

Playtika Stock Up 0.3%

Shares of NASDAQ PLTK opened at $3.47 on Friday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. The company’s 50-day simple moving average is $3.71 and its 200-day simple moving average is $3.77. Playtika has a 52-week low of $3.25 and a 52-week high of $7.19.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Playtika during the 2nd quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new position in Playtika during the 4th quarter worth about $32,000. Signaturefd LLC boosted its holdings in Playtika by 129.8% during the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock valued at $36,000 after acquiring an additional 5,147 shares during the period. Comerica Bank grew its position in Playtika by 278.9% in the 4th quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after acquiring an additional 6,704 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC purchased a new stake in Playtika during the third quarter worth about $38,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Company Profile

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.