Playtika (NASDAQ:PLTK) Upgraded at Wall Street Zen

Key Points

• Playtika has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased optimism among analysts about the company's stock.
• Despite this upgrade, some analysts have reduced their price targets, with Morgan Stanley cutting theirs from $7.25 to $5.75 and Wedbush lowering theirs from $11.50 to $7.00.
• Playtika's recent earnings report showed a loss of $0.13 per share compared to expectations, while quarterly revenue rose by 11% year-over-year but was below consensus estimates.

Playtika (NASDAQ:PLTK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other research analysts also recently issued reports about the company. Wedbush cut their target price on Playtika from $11.50 to $7.00 and set an "outperform" rating on the stock in a report on Friday. Morgan Stanley dropped their price target on Playtika from $7.25 to $5.75 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $7.04.

Playtika Stock Performance

NASDAQ:PLTK traded up $0.03 during mid-day trading on Friday, hitting $3.81. 1,673,314 shares of the stock were exchanged, compared to its average volume of 1,695,483. The firm's 50-day simple moving average is $4.65 and its 200 day simple moving average is $5.21. Playtika has a fifty-two week low of $3.65 and a fifty-two week high of $8.80. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85.

Playtika (NASDAQ:PLTK - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.13). Playtika had a negative return on equity of 78.88% and a net margin of 3.23%. The company had revenue of $696.00 million for the quarter, compared to the consensus estimate of $706.03 million. During the same quarter last year, the business earned $0.23 EPS. Playtika's revenue was up 11.0% on a year-over-year basis. On average, analysts predict that Playtika will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $4.70, for a total value of $1,828,549.10. Following the transaction, the insider owned 199,510,511 shares in the company, valued at approximately $937,699,401.70. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 739,922 shares of company stock valued at $3,548,194 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Playtika

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd grew its stake in shares of Playtika by 11.4% during the fourth quarter. Covestor Ltd now owns 14,103 shares of the company's stock valued at $98,000 after buying an additional 1,447 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Playtika by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock worth $29,000 after purchasing an additional 1,534 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Playtika by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company's stock valued at $3,726,000 after acquiring an additional 1,639 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Playtika by 2.0% during the 1st quarter. SummerHaven Investment Management LLC now owns 103,334 shares of the company's stock valued at $534,000 after acquiring an additional 2,006 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Playtika by 3.0% during the fourth quarter. Invesco Ltd. now owns 78,390 shares of the company's stock valued at $544,000 after purchasing an additional 2,304 shares during the last quarter. Hedge funds and other institutional investors 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.