PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) was upgraded by analysts at Craig Hallum from a "hold" rating to a "buy" rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $3.00 price objective on the stock, up from their previous price objective of $2.00. Craig Hallum's price target would suggest a potential upside of 113.52% from the company's current price.
Several other equities analysts also recently commented on MYPS. Macquarie lowered their target price on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Benchmark upgraded PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 price target for the company in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2.80.
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PLAYSTUDIOS Stock Performance
Shares of NASDAQ MYPS traded down $0.01 during trading hours on Friday, hitting $1.41. The stock had a trading volume of 142,675 shares, compared to its average volume of 217,953. The firm's 50-day moving average price is $1.34 and its two-hundred day moving average price is $1.62. PLAYSTUDIOS has a 52 week low of $1.14 and a 52 week high of $2.46. The company has a market capitalization of $175.74 million, a P/E ratio of -7.39, a P/E/G ratio of 17.60 and a beta of 0.89.
PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.02). The firm had revenue of $62.71 million during the quarter, compared to analysts' expectations of $64.45 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. As a group, analysts expect that PLAYSTUDIOS will post -0.17 EPS for the current fiscal year.
Insider Buying and Selling
In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 29,601 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total value of $37,297.26. Following the sale, the chief financial officer now owns 504,397 shares of the company's stock, valued at $635,540.22. This trade represents a 5.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 14.29% of the company's stock.
Institutional Investors Weigh In On PLAYSTUDIOS
Several hedge funds have recently modified their holdings of MYPS. Ameriprise Financial Inc. raised its stake in PLAYSTUDIOS by 18.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company's stock valued at $4,430,000 after purchasing an additional 368,879 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of PLAYSTUDIOS by 118.5% during the 1st quarter. Mackenzie Financial Corp now owns 575,737 shares of the company's stock worth $731,000 after purchasing an additional 312,286 shares during the period. Nuveen LLC bought a new position in shares of PLAYSTUDIOS during the 1st quarter worth about $277,000. Jane Street Group LLC acquired a new position in shares of PLAYSTUDIOS during the first quarter valued at about $203,000. Finally, NewEdge Advisors LLC lifted its stake in shares of PLAYSTUDIOS by 5,260.6% in the first quarter. NewEdge Advisors LLC now owns 134,015 shares of the company's stock valued at $170,000 after buying an additional 131,515 shares during the period. 37.52% of the stock is owned by institutional investors.
About PLAYSTUDIOS
(
Get Free Report)
PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.
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