Playtech (LON:PTEC) Trading 10.2% Higher – Should You Buy?

Playtech plc (LON:PTEC)’s stock price shot up 10.2% during mid-day trading on Wednesday . The stock traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Wall Street Analyst Weigh In

PTEC has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research report on Friday, January 23rd. Jefferies Financial Group cut shares of Playtech to a “hold” rating and reduced their target price for the company from GBX 405 to GBX 240 in a report on Tuesday, November 25th.

Playtech Trading Down 0.7%

The stock’s 50-day simple moving average is GBX 283.77 and its two-hundred day simple moving average is GBX 322.89. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The firm has a market capitalization of £986.05 million, a P/E ratio of 0.60, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.