Playtech (LON:PTEC) Stock Price Up 10.2% – Should You Buy?

Playtech plc (LON:PTEC)’s share price rose 10.2% on Wednesday . The company traded as high as GBX 354.50 and last traded at GBX 351.50. Approximately 1,682,517 shares traded hands during trading, a decline of 63% from the average daily volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Wall Street Analysts Forecast Growth

Several research firms have commented on PTEC. Jefferies Financial Group downgraded shares of Playtech to a “hold” rating and lowered their target price for the stock from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday, January 23rd.

Playtech Stock Down 2.3%

The firm’s 50-day simple moving average is GBX 286.22 and its 200-day simple moving average is GBX 323.19. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The company has a market capitalization of £942.04 million, a price-to-earnings ratio of 0.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26.

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.