Playtech (LON:PTEC) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Playtech plc shares fell below their 200-day moving average, trading at GBX 357 ($4.84), raising concerns about a potential sell-off.
• Despite the decline, Wall Street analysts maintain positive outlooks, with Deutsche Bank raising its target price to GBX 433 and Peel Hunt reiterating a "buy" rating with a target of GBX 510.
• The company has a market capitalization of £1.10 billion and notable financial ratios, indicating a high P/E ratio of 497.91 and a debt-to-equity ratio of 40.06.

Shares of Playtech plc (LON:PTEC - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 494.16 ($6.68) and traded as low as GBX 357 ($4.82). Playtech shares last traded at GBX 357 ($4.82), with a volume of 400,887 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PTEC. Deutsche Bank Aktiengesellschaft lifted their price target on Playtech from GBX 417 to GBX 433 and gave the company a "buy" rating in a research note on Thursday, September 11th. Peel Hunt restated a "buy" rating and issued a GBX 510 target price on shares of Playtech in a research note on Friday, August 1st.

Playtech Stock Performance

The stock has a market capitalization of £1.10 billion, a P/E ratio of 499.30, a PEG ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The company's fifty day simple moving average is GBX 402.20 and its two-hundred day simple moving average is GBX 485.61.

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.