Playtech (LON:PTEC) Trading 10.2% Higher – Should You Buy?

Playtech plc (LON:PTEC) shares traded up 10.2% during mid-day trading on Tuesday . The stock traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Analyst Upgrades and Downgrades

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

Playtech Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.09 and a debt-to-equity ratio of 40.06. The company has a market capitalization of £992.89 million, a price-to-earnings ratio of 0.60, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The stock has a 50-day simple moving average of GBX 283.77 and a 200-day simple moving average of GBX 322.89.

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.