Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Playtech (LON:PTEC) Stock Price

Playtech (LON:PTEC) had its price target lowered by investment analysts at Deutsche Bank Aktiengesellschaft from GBX 433 to GBX 390 in a report released on Friday,Digital Look reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 42.73% from the stock’s previous close.

Separately, Jefferies Financial Group lowered Playtech to a “hold” rating and cut their price objective for the stock from GBX 405 to GBX 240 in a research note on Tuesday, November 25th.

Playtech Stock Down 0.1%

Shares of LON PTEC opened at GBX 273.25 on Friday. The firm has a market cap of £771.85 million, a price-to-earnings ratio of 0.47, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company’s 50-day simple moving average is GBX 272.85 and its 200-day simple moving average is GBX 331.65. The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. Playtech has a 52-week low of GBX 210 and a 52-week high of GBX 447.

Playtech announced that its board has initiated a share repurchase plan on Thursday, September 25th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Playtech

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.