Playtika Holding Corp. (NASDAQ:PLTK) Stock Has Consensus Price Target of $3.75 According to Analysts

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have earned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $3.75.

Several analysts have issued reports on PLTK shares. Citigroup lowered their target price on shares of Playtika from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Wall Street Zen lowered shares of Playtika from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. TD Cowen reaffirmed a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Morgan Stanley set a $4.25 price objective on Playtika in a research report on Monday, August 10th. Finally, Wedbush lifted their price objective on Playtika from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd.

Playtika Stock Performance

Shares of Playtika stock opened at $2.13 on Friday. The company’s 50-day moving average price is $2.77 and its 200-day moving average price is $3.18. Playtika has a 12-month low of $2.09 and a 12-month high of $4.42. The company has a market cap of $812.42 million, a price-to-earnings ratio of -2.92 and a beta of 1.00.

Institutional Trading of Playtika

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Playtika during the second quarter valued at about $22,230,000. Man Group plc purchased a new position in shares of Playtika in the 2nd quarter worth about $2,554,000. Bank of New York Mellon Corp purchased a new position in shares of Playtika in the 2nd quarter worth about $946,000. Tidal Investments LLC increased its position in shares of Playtika by 153.0% during the 2nd quarter. Tidal Investments LLC now owns 353,984 shares of the company’s stock valued at $1,317,000 after purchasing an additional 214,093 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Playtika during the 2nd quarter valued at about $429,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

About Playtika

Playtika Holding Corp. is a digital entertainment company that develops, publishes and operates free-to-play mobile and online games. Its titles are designed for smartphones, tablets and web platforms and generate revenue primarily through in-game purchases and advertising.

The company’s portfolio includes social casino games such as Slotomania, Caesars Slots, House of Fun and Bingo Blitz, as well as casual and social games including June’s Journey and Board Kings. Playtika operates and supports its games through live services, which include regular content updates, events and features intended to maintain player engagement.

Founded in 2010, Playtika has expanded through internal development and acquisitions of game studios and intellectual property.