Playtika (NASDAQ:PLTK) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Playtika (NASDAQ:PLTK – Get Rating) issued its quarterly earnings results on Tuesday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02), MarketWatch Earnings reports. The firm had revenue of $679.60 million during the quarter, compared to analysts’ expectations of $641.85 million. Playtika had a net margin of 11.94% and a negative return on equity of 61.32%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Playtika updated its FY 2022 guidance to EPS.

PLTK traded down $0.84 during trading on Tuesday, reaching $11.94. The company had a trading volume of 87,083 shares, compared to its average volume of 1,922,270. The business’s fifty day moving average price is $18.10 and its 200 day moving average price is $18.82. The company has a market cap of $4.92 billion, a P/E ratio of 16.82 and a beta of 0.16. Playtika has a 12 month low of $12.29 and a 12 month high of $30.00.

Several research firms have weighed in on PLTK. The Goldman Sachs Group lowered shares of Playtika from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $27.00 to $22.00 in a research note on Tuesday, April 19th. BTIG Research dropped their price objective on shares of Playtika from $29.00 to $22.00 in a research note on Tuesday, January 25th. Credit Suisse Group dropped their price objective on shares of Playtika from $39.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. Wedbush reiterated an “outperform” rating on shares of Playtika in a research note on Tuesday, February 15th. Finally, Zacks Investment Research upgraded shares of Playtika from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $28.30.

Hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its holdings in Playtika by 324.5% during the second quarter. Morgan Stanley now owns 146,661 shares of the company’s stock worth $3,497,000 after buying an additional 112,108 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Playtika during the third quarter worth about $733,000. Charles Schwab Investment Management Inc. lifted its position in Playtika by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 510,939 shares of the company’s stock worth $8,835,000 after purchasing an additional 13,120 shares during the period. Geode Capital Management LLC lifted its position in Playtika by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 1,595,072 shares of the company’s stock worth $27,578,000 after purchasing an additional 100,501 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Playtika by 137.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 425,049 shares of the company’s stock worth $7,349,000 after purchasing an additional 246,242 shares during the period. 20.08% of the stock is currently owned by institutional investors and hedge funds.

Playtika Company Profile (Get Rating)

Playtika Holding Corp. develops mobile games in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company owns a portfolio of casual and casino-themed games. It distributes its games to the end customer through various web and mobile platforms, such as Apple, Facebook, Google, and other web and mobile platforms and its own proprietary platforms.

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