Playtika (NASDAQ:PLTK) Cut to “Neutral” at Wedbush

Playtika (NASDAQ:PLTK) was downgraded by stock analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Monday. They presently have a $3.00 price objective on the stock. Wedbush’s price objective indicates a potential downside of 2.91% from the company’s current price.

PLTK has been the subject of several other research reports. Citigroup cut their price target on Playtika from $7.00 to $5.50 and set a “buy” rating for the company in a report on Friday, February 20th. Loop Capital set a $3.75 target price on shares of Playtika in a report on Monday, November 3rd. Wall Street Zen downgraded shares of Playtika from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Weiss Ratings upgraded shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Playtika currently has a consensus rating of “Hold” and a consensus price target of $4.75.

Playtika Price Performance

Playtika stock opened at $3.09 on Monday. The firm’s 50 day moving average price is $3.61 and its 200-day moving average price is $3.74. Playtika has a 1 year low of $2.99 and a 1 year high of $5.68. The stock has a market cap of $1.17 billion, a P/E ratio of -5.72, a PEG ratio of 1.78 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.96). The company had revenue of $678.80 million during the quarter, compared to analysts’ expectations of $660.32 million. Playtika had a negative return on equity of 211.76% and a negative net margin of 7.49%.The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, equities analysts expect that Playtika will post 0.65 EPS for the current year.

Institutional Trading of Playtika

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in Playtika during the 2nd quarter worth about $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Playtika in the 4th quarter worth approximately $32,000. Signaturefd LLC increased its holdings in Playtika by 129.8% during the fourth quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock valued at $36,000 after buying an additional 5,147 shares during the period. Comerica Bank raised its stake in Playtika by 278.9% in the fourth quarter. Comerica Bank now owns 9,108 shares of the company’s stock worth $36,000 after buying an additional 6,704 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC purchased a new stake in Playtika during the third quarter worth $38,000. 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.