Robert W. Baird Increases Playtika (NASDAQ:PLTK) Price Target to $10.00

Playtika (NASDAQ:PLTK) had its price objective hoisted by analysts at Robert W. Baird from $9.00 to $10.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 12.74% from the company’s previous close.

Other analysts have also issued research reports about the stock. Morgan Stanley cut their target price on shares of Playtika from $10.00 to $7.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 27th. Stifel Nicolaus reduced their price objective on Playtika from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Wedbush lowered their target price on Playtika from $14.75 to $11.50 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Bank of America lowered Playtika from a “neutral” rating to an “underperform” rating and cut their price target for the company from $11.00 to $8.00 in a research note on Thursday, January 18th. Finally, The Goldman Sachs Group lowered their price objective on Playtika from $11.00 to $8.75 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.39.

Playtika Stock Performance

Shares of PLTK opened at $8.87 on Friday. Playtika has a 52-week low of $6.25 and a 52-week high of $12.90. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.15 and a beta of 0.79. The business’s fifty day moving average is $7.15 and its 200-day moving average is $7.73.

Playtika (NASDAQ:PLTK) last issued its earnings results on Monday, February 26th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.07). Playtika had a negative return on equity of 81.85% and a net margin of 9.15%. The business had revenue of $637.90 million for the quarter, compared to analyst estimates of $630.26 million. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Playtika will post 0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quent Capital LLC raised its stake in Playtika by 109.1% during the fourth quarter. Quent Capital LLC now owns 3,092 shares of the company’s stock worth $27,000 after buying an additional 1,613 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Playtika in the 3rd quarter worth about $33,000. International Assets Investment Management LLC lifted its stake in shares of Playtika by 772.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,924 shares of the company’s stock valued at $34,000 after purchasing an additional 3,474 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Playtika during the 1st quarter valued at about $82,000. Finally, Commerce Bank acquired a new stake in Playtika during the fourth quarter worth approximately $88,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

About Playtika

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.