Playtika (NASDAQ:PLTK) Given New $4.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its price target for Playtika (NASDAQ:PLTK) from $5.50 to $4.00 and maintains a "neutral" rating, indicating a potential upside of 9.74% from the current price.
• Playtika reported earnings of $0.02 per share for the last quarter, falling short of analysts' expectations of $0.15 and generating $696 million in revenue.
• Institutional investors have been actively trading Playtika shares, with Allworth Financial LP increasing its holdings by 117.1% in the first quarter.

Playtika (NASDAQ:PLTK - Get Free Report) had its price objective cut by equities researchers at UBS Group from $5.50 to $4.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 9.74% from the company's current price.

Several other research firms have also recently weighed in on PLTK. Wedbush decreased their target price on Playtika from $11.50 to $7.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen raised shares of Playtika from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Playtika presently has a consensus rating of "Hold" and a consensus price target of $6.66.

Playtika Trading Down 1.8%

Shares of PLTK stock traded down $0.07 on Thursday, reaching $3.65. 562,378 shares of the stock were exchanged, compared to its average volume of 1,737,451. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.28 and a beta of 0.84. The business's 50 day moving average price is $4.18 and its 200 day moving average price is $4.69. Playtika has a twelve month low of $3.52 and a twelve month high of $8.80.

Playtika (NASDAQ:PLTK - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.13). The business had revenue of $696.00 million during the quarter, compared to analyst estimates of $706.03 million. Playtika had a net margin of 3.23% and a negative return on equity of 83.90%. The firm's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Playtika has set its FY 2025 guidance at EPS. Equities research analysts forecast that Playtika will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of Playtika by 117.1% in the first quarter. Allworth Financial LP now owns 4,996 shares of the company's stock valued at $26,000 after purchasing an additional 2,695 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Playtika in the 2nd quarter valued at $27,000. Quarry LP acquired a new position in Playtika in the 1st quarter valued at $29,000. US Bancorp DE increased its stake in Playtika by 280.9% in the 1st quarter. US Bancorp DE now owns 6,707 shares of the company's stock valued at $35,000 after buying an additional 4,946 shares during the period. Finally, Brooklyn Investment Group raised its position in Playtika by 15,890.5% during the 1st quarter. Brooklyn Investment Group now owns 6,716 shares of the company's stock worth $35,000 after buying an additional 6,674 shares during the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.

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