Playtech (LON:PTEC) Shares Up 9.2% – Should You Buy?

Shares of Playtech plc (LON:PTEC) rose 9.2% during mid-day trading on Tuesday . The company traded as high as GBX 308 and last traded at GBX 298. Approximately 2,091,662 shares changed hands during trading, an increase of 141% from the average daily volume of 868,488 shares. The stock had previously closed at GBX 273.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PTEC shares. Deutsche Bank Aktiengesellschaft dropped their target price on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group lowered Playtech to a “hold” rating and lowered their price target for the company from GBX 405 to GBX 240 in a research report on Tuesday, November 25th.

Playtech Trading Up 9.2%

The stock’s 50 day simple moving average is GBX 274.42 and its two-hundred day simple moving average is GBX 329.72. The stock has a market capitalization of £841.76 million, a PE ratio of 0.51, a PEG ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09.

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.