Playtika Holding Corp. (NASDAQ:PLTK) Stock Has Consensus Target Price of $3.35

Key Points

• Analysts rate Playtika “Hold” on average: Of six covering firms, three recommend holding, two recommend buying and one recommends selling; the average 12-month price target is $3.35.
• Quarterly results beat estimates: Playtika reported EPS of $0.32 versus a $0.22 consensus and revenue of $673.8 million versus $667.0 million expected, though revenue was down 0.1% year over year and the company posted a negative net margin.
• The stock opened at $2.64: Its reported 52-week range was $1.88–$4.42. CTO Uri Rubin also sold 220,000 shares at an average price of $2.52.

Shares of Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) have received an average rating of "Hold" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3.35.

Several equities research analysts have recently issued reports on PLTK shares. Roth Capital decreased their price objective on shares of Playtika from $3.50 to $2.75 and set a "neutral" rating for the company in a research report on Monday, August 31st. Wedbush dropped their target price on Playtika from $4.00 to $3.00 and set a "neutral" rating on the stock in a report on Friday, November 6th. The Goldman Sachs Group set a $3.75 price target on Playtika in a research note on Friday, August 7th. Wall Street Zen downgraded Playtika from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Finally, Citigroup lowered their price objective on Playtika from $3.50 to $3.00 and set a "buy" rating for the company in a research report on Thursday, October 29th.

Playtika Stock Performance

Shares of PLTK opened at $2.64 on Friday. The stock has a 50-day simple moving average of $2.22 and a 200-day simple moving average of $3.02. The stock has a market capitalization of $1.01 billion, a PE ratio of -3.62 and a beta of 1.08. Playtika has a 1 year low of $1.88 and a 1 year high of $4.42.

Playtika (NASDAQ:PLTK - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. The firm had revenue of $673.80 million for the quarter, compared to analyst estimates of $666.98 million. Playtika had a negative net margin of 9.84% and a negative return on equity of 67.84%. The business's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. Analysts predict that Playtika will post 0.46 EPS for the current year.

Insider Buying and Selling at Playtika

In related news, CTO Uri Rubin sold 220,000 shares of the business's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $2.52, for a total transaction of $554,400.00. Following the completion of the sale, the chief technology officer owned 489,352 shares in the company, valued at $1,233,167.04. The trade was a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Playtika

Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new stake in shares of Playtika during the 3rd quarter worth approximately $25,000. Empowered Funds LLC acquired a new position in shares of Playtika in the 3rd quarter valued at $107,000. Polymer Capital Management US LLC boosted its holdings in shares of Playtika by 5.6% in the 3rd quarter. Polymer Capital Management US LLC now owns 281,525 shares of the company's stock valued at $602,000 after buying an additional 14,870 shares in the last quarter. Virtus Advisers LLC boosted its holdings in shares of Playtika by 90.9% in the 3rd quarter. Virtus Advisers LLC now owns 133,451 shares of the company's stock valued at $286,000 after buying an additional 63,538 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Playtika by 89.2% in the 3rd quarter. International Assets Investment Management LLC now owns 22,742 shares of the company's stock valued at $49,000 after buying an additional 10,725 shares during the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

About Playtika

Playtika Holding Corp. develops and publishes free-to-play mobile games, with a focus on social casino and casual gaming. Its games are available on mobile devices and online, and generate revenue primarily through in-game purchases and advertising. Its portfolio includes titles such as Slotomania, Caesars Slots, Bingo Blitz and June's Journey. Playtika was founded in 2010 and has expanded its portfolio through acquisitions, including the 2018 purchase of German game developer Wooga. Founded in Israel, Playtika serves players in markets around the world.

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