Citigroup Cuts Playtika (NASDAQ:PLTK) Price Target to $5.50

Playtika (NASDAQ:PLTK) had its price target decreased by equities researchers at Citigroup from $7.00 to $5.50 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 58.50% from the company’s current price.

PLTK has been the topic of several other research reports. Weiss Ratings upgraded shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Loop Capital set a $3.75 price target on shares of Playtika in a research note on Monday, November 3rd. Wall Street Zen lowered Playtika from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Playtika in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.56.

Playtika Price Performance

Playtika stock traded up $0.01 during mid-day trading on Friday, reaching $3.47. 1,021,591 shares of the stock traded hands, compared to its average volume of 1,471,520. Playtika has a 12-month low of $3.25 and a 12-month high of $7.19. The business’s 50-day moving average is $3.72 and its 200-day moving average is $3.78. The stock has a market capitalization of $1.30 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Playtika during the second quarter valued at about $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Playtika during the fourth quarter worth about $32,000. Comerica Bank raised its stake in Playtika by 278.9% during the 4th quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after purchasing an additional 6,704 shares during the period. Signaturefd LLC raised its stake in Playtika by 129.8% during the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock valued at $36,000 after purchasing an additional 5,147 shares during the period. Finally, ProShare Advisors LLC purchased a new position in Playtika in the 4th quarter worth approximately $41,000. Institutional investors own 11.94% of the company’s stock.

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.