PLAYSTUDIOS (NASDAQ:MYPS) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded PLAYSTUDIOS to “Hold.” The stock has a consensus “Hold” rating from analysts, with an average price target of $12.50.
• PLAYSTUDIOS shares opened at $3.96, near their 52-week low of $3.83, and have fallen below both their 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.10 per share, better than the expected $0.37 loss, while revenue of $54.99 million came in below the $57.05 million estimate.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of PLAYSTUDIOS from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.50.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock opened at $3.96 on Friday. The firm has a 50 day moving average price of $4.88 and a two-hundred day moving average price of $5.25. PLAYSTUDIOS has a 52-week low of $3.83 and a 52-week high of $9.90. The firm has a market cap of $47.56 million, a price-to-earnings ratio of -1.10 and a beta of 0.96.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.27. The firm had revenue of $54.99 million during the quarter, compared to analyst estimates of $57.05 million. PLAYSTUDIOS had a negative return on equity of 19.61% and a negative net margin of 20.65%.

Institutional Investors Weigh In On PLAYSTUDIOS

An institutional investor recently bought a new position in PLAYSTUDIOS stock. Marquette Asset Management LLC purchased a new stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 406,344 shares of the company's stock, valued at approximately $203,000. Marquette Asset Management LLC owned approximately 0.32% of PLAYSTUDIOS at the end of the most recent reporting period. Hedge funds and other institutional investors own 37.52% of the company's stock.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc develops and publishes free-to-play social casino and casual mobile games. Its portfolio includes myVEGAS Slots, myKONAMI Slots, POP! Slots and other titles that allow players to use virtual currency and participate in casino-themed entertainment without wagering real money.

The company's games are connected to its playAWARDS loyalty platform, which allows players to earn points through gameplay and redeem them for real-world rewards. These rewards have included hotel stays, dining, entertainment and other experiences offered through participating hospitality, travel and leisure partners.

PLAYSTUDIOS was founded in 2011 and is headquartered in Las Vegas, Nevada.

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