Playtika (NASDAQ:PLTK) Price Target Raised to $9.00

Playtika (NASDAQ:PLTK) had its price target hoisted by equities research analysts at Roth Mkm from $8.00 to $9.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s price target points to a potential upside of 8.30% from the stock’s previous close.

Several other brokerages have also issued reports on PLTK. Morgan Stanley increased their price objective on Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Wedbush reissued an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Playtika has an average rating of “Hold” and an average target price of $9.18.

Playtika Stock Down 0.6 %

Shares of PLTK traded down $0.05 during mid-day trading on Friday, reaching $8.31. The company’s stock had a trading volume of 860,818 shares, compared to its average volume of 863,961. The business has a fifty day moving average of $7.71 and a 200 day moving average of $7.82. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. Playtika has a 1 year low of $6.25 and a 1 year high of $9.23.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. The firm had revenue of $620.80 million for the quarter, compared to analysts’ expectations of $622.46 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Playtika’s revenue was down 1.5% on a year-over-year basis. On average, analysts predict that Playtika will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Playtika

Institutional investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Playtika during the second quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in Playtika during the second quarter worth about $36,000. Acadian Asset Management LLC acquired a new stake in Playtika during the second quarter worth about $43,000. Headlands Technologies LLC grew its position in Playtika by 648.8% during the second quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock worth $53,000 after buying an additional 5,794 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Playtika during the third quarter worth about $62,000. 11.94% of the stock is owned by institutional investors and hedge funds.

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.