PLAYSTUDIOS (NASDAQ:MYPS) Announces Earnings Results, Misses Expectations By $0.07 EPS

PLAYSTUDIOS (NASDAQ:MYPS) posted its earnings results on Monday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07), FiscalAI reports. PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. The firm had revenue of $55.40 million during the quarter, compared to the consensus estimate of $56.23 million.

PLAYSTUDIOS Stock Down 2.0%

NASDAQ:MYPS opened at $0.50 on Tuesday. The business’s 50-day simple moving average is $0.55 and its two-hundred day simple moving average is $0.73. PLAYSTUDIOS has a 52 week low of $0.43 and a 52 week high of $1.69. The stock has a market cap of $63.05 million, a PE ratio of -1.72 and a beta of 0.95.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. Zacks Research raised shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PLAYSTUDIOS presently has a consensus rating of “Hold” and an average target price of $2.25.

Institutional Investors Weigh In On PLAYSTUDIOS

Several institutional investors and hedge funds have recently modified their holdings of MYPS. Orion Porfolio Solutions LLC purchased a new position in shares of PLAYSTUDIOS during the third quarter valued at about $30,000. Franklin Resources Inc. purchased a new position in shares of PLAYSTUDIOS in the third quarter valued at $46,000. Verdad Advisers LP purchased a new stake in PLAYSTUDIOS during the fourth quarter valued at $48,000. Deutsche Bank AG bought a new stake in shares of PLAYSTUDIOS in the 4th quarter worth about $61,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of PLAYSTUDIOS by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after acquiring an additional 31,685 shares during the last quarter. Institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.