Playtika (NASDAQ:PLTK) Price Target Cut to $4.00 by Analysts 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 dropped by equities research analysts at UBS Group from $5.50 to $4.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price points to a potential upside of 10.96% from the company's previous close.

A number of other equities research analysts have also weighed in on PLTK. Wedbush reduced their target price on shares of Playtika from $11.50 to $7.00 and set an "outperform" rating on the stock in a report 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 equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.66.

Playtika Price Performance

PLTK stock traded up $0.03 during trading on Thursday, reaching $3.61. 1,113,521 shares of the company were exchanged, compared to its average volume of 1,743,674. Playtika has a twelve month low of $3.52 and a twelve month high of $8.80. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.26 and a beta of 0.84. The company has a 50-day moving average of $4.11 and a two-hundred day moving average of $4.61.

Playtika (NASDAQ:PLTK - Get Free Report) last posted its 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). Playtika had a negative return on equity of 83.90% and a net margin of 3.23%.The business had revenue of $696.00 million for the quarter, compared to the consensus estimate of $706.03 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company's revenue was up 11.0% compared to the same quarter last year. Playtika has set its FY 2025 guidance at EPS. On average, analysts forecast that Playtika will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLTK. Northern Trust Corp raised its holdings in Playtika by 5.7% during the fourth quarter. Northern Trust Corp now owns 544,678 shares of the company's stock worth $3,780,000 after buying an additional 29,217 shares during the last quarter. Jane Street Group LLC raised its holdings in Playtika by 38.4% during the fourth quarter. Jane Street Group LLC now owns 212,867 shares of the company's stock worth $1,477,000 after buying an additional 59,071 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Playtika by 17.7% during the fourth quarter. Ameriprise Financial Inc. now owns 131,377 shares of the company's stock worth $912,000 after buying an additional 19,710 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Playtika during the fourth quarter worth $1,222,000. Finally, Deutsche Bank AG acquired a new position in Playtika during the fourth quarter worth $567,000. Institutional investors and hedge funds own 11.94% of the company's stock.

About Playtika

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.