Playtika (NASDAQ:PLTK) Hits New 12-Month Low - What's Next?

Key Points

• Playtika hit a new 52‑week low of $2.65 (last $2.6550) and trades below its 50‑ and 200‑day moving averages ($3.16 and $3.60), with a market capitalization of about $1.01 billion.
• Several brokers have cut ratings and price targets (Goldman Sachs, Citi, Wedbush, Weiss, etc.), leaving a MarketBeat consensus rating of Hold and a consensus price target of $4.38.
• The company posted a large earnings miss in the most recent quarter (EPS -$0.82 vs. $0.14 expected) despite revenue beating estimates at $678.8 million, and reported negative net margin and return on equity.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $2.65 and last traded at $2.6550, with a volume of 42743 shares trading hands. The stock had previously closed at $2.74.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLTK. The Goldman Sachs Group lowered their price target on Playtika from $4.75 to $4.25 and set a "neutral" rating on the stock in a research report on Monday, March 2nd. Citigroup cut their price objective on Playtika from $7.00 to $5.50 and set a "buy" rating for the company in a research report on Friday, February 20th. Weiss Ratings lowered Playtika from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, March 2nd. Wedbush cut shares of Playtika from an "outperform" rating to a "neutral" rating and set a $3.00 price target on the stock. in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Playtika from a "buy" rating to a "hold" rating in a report on Sunday, January 25th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.38.

Playtika Trading Down 2.7%

The business has a fifty day moving average price of $3.16 and a two-hundred day moving average price of $3.60. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.95 and a beta of 0.88.

Playtika (NASDAQ:PLTK - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.96). Playtika had a negative net margin of 7.49% and a negative return on equity of 114.29%. The company had revenue of $678.80 million during the quarter, compared to analyst estimates of $660.32 million. During the same quarter last year, the business posted ($0.04) EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Playtika

A number of large investors have recently modified their holdings of PLTK. CWA Asset Management Group LLC acquired a new position in Playtika during the 3rd quarter worth $1,716,000. Assenagon Asset Management S.A. acquired a new stake in Playtika in the 3rd quarter valued at about $1,509,000. Denali Advisors LLC acquired a new stake in Playtika in the 3rd quarter valued at about $3,004,000. Geode Capital Management LLC boosted its stake in shares of Playtika by 30.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,816,734 shares of the company's stock valued at $8,594,000 after buying an additional 420,100 shares during the period. Finally, New York State Common Retirement Fund grew its position in shares of Playtika by 1,771.2% during the third quarter. New York State Common Retirement Fund now owns 250,698 shares of the company's stock worth $975,000 after buying an additional 237,300 shares in the last quarter. Hedge funds and other institutional investors own 11.94% of the company's stock.

Playtika Company Profile

Playtika Ltd. NASDAQ: PLTK is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika's platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company's diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.

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