Wedbush Cuts Playtika (NASDAQ:PLTK) Price Target to $7.00

Key Points

• Wedbush has lowered its price target for Playtika's stock from $11.50 to $7.00 while maintaining an "outperform" rating, indicating potential upside from the current price.
• Morgan Stanley has also reduced its price target for Playtika shares from $7.25 to $5.75, stating an "equal weight" rating, with the current consensus price target at $7.04.
• In recent trading, Playtika's stock was down to $3.87, a significant decline from its 12-month high of $8.80, reflecting decreased investor confidence following less than favorable earnings reports.

Playtika (NASDAQ:PLTK - Get Free Report) had its price objective decreased by research analysts at Wedbush from $11.50 to $7.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price target points to a potential upside of 83.97% from the company's previous close. Wedbush also issued estimates for Playtika's Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.12 EPS, Q1 2026 earnings at $0.08 EPS, Q2 2026 earnings at $0.11 EPS, Q3 2026 earnings at $0.14 EPS, Q4 2026 earnings at $0.17 EPS and FY2027 earnings at $0.60 EPS.

Separately, Morgan Stanley reduced their price target on Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.04.

Playtika Stock Down 0.1%

Shares of PLTK stock traded down $0.01 on Friday, hitting $3.81. The company had a trading volume of 177,528 shares, compared to its average volume of 1,688,239. The firm has a market cap of $1.43 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.85. Playtika has a twelve month low of $3.65 and a twelve month high of $8.80. The company has a 50-day moving average price of $4.63 and a 200-day moving average price of $5.20.

Playtika (NASDAQ:PLTK - Get Free Report) last released 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 negative return on equity of 83.90% and a net margin of 3.23%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. Equities research analysts expect that Playtika will post 0.65 EPS for the current year.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $4.77, for a total value of $719,645.13. Following the completion of the transaction, the insider directly owned 199,359,642 shares in the company, valued at approximately $950,945,492.34. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Playtika

Hedge funds have recently modified their holdings of the business. Covestor Ltd boosted its position in shares of Playtika by 11.4% during the fourth quarter. Covestor Ltd now owns 14,103 shares of the company's stock worth $98,000 after buying an additional 1,447 shares during the period. Sterling Capital Management LLC boosted its position in shares of Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock worth $29,000 after buying an additional 1,534 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Playtika by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company's stock worth $3,726,000 after buying an additional 1,639 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Playtika by 2.0% during the first quarter. SummerHaven Investment Management LLC now owns 103,334 shares of the company's stock worth $534,000 after buying an additional 2,006 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Playtika by 3.0% during the fourth quarter. Invesco Ltd. now owns 78,390 shares of the company's stock worth $544,000 after buying an additional 2,304 shares during the period. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

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.