Playtika (NASDAQ:PLTK) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Playtika from “Buy” to “Hold,” while the broader analyst consensus remains “Hold” with a target price of $4.11.
• Analyst price targets range from $3.50 to $4.25, with Goldman Sachs at $3.75, Wedbush at $4.00, and Morgan Stanley at $4.25; two analysts rate the stock Buy, four Hold, and one Sell.
• Playtika shares opened at $2.37, well below the 50-day and 200-day moving averages of $3.52 and $3.35, respectively. Institutional investors own approximately 11.94% of the company.

Playtika (NASDAQ:PLTK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other research analysts also recently weighed in on PLTK. The Goldman Sachs Group set a $3.75 price target on Playtika in a research note on Friday, August 7th. TD Cowen restated a "buy" rating on shares of Playtika in a research note on Tuesday, June 9th. Wedbush lifted their price objective on shares of Playtika from $3.00 to $4.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Morgan Stanley set a $4.25 price target on Playtika in a report on Monday, August 10th. Finally, Roth Capital lifted their target price on Playtika from $3.00 to $3.50 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.11.

Playtika Stock Up 0.9%

PLTK opened at $2.37 on Friday. Playtika has a twelve month low of $2.09 and a twelve month high of $4.42. The company's 50-day moving average price is $3.52 and its two-hundred day moving average price is $3.35. The stock has a market cap of $903.97 million, a price-to-earnings ratio of -3.25 and a beta of 1.09.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently modified their holdings of PLTK. Independent Financial Group LLC purchased a new position in shares of Playtika during the first quarter worth approximately $28,000. Kestra Advisory Services LLC bought a new position in Playtika during the 4th quarter worth approximately $32,000. Comerica Bank boosted its stake in shares of Playtika by 278.9% during the fourth quarter. Comerica Bank now owns 9,108 shares of the company's stock valued at $36,000 after purchasing an additional 6,704 shares during the period. Keynote Financial Services LLC purchased a new position in shares of Playtika in the fourth quarter worth $41,000. Finally, ProShare Advisors LLC purchased a new position in Playtika during the 4th quarter valued at about $41,000. 11.94% of the stock is currently owned by institutional investors.

About Playtika

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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