Northland Capmk Weighs in on PLAYSTUDIOS, Inc.’s FY2024 Earnings (NASDAQ:MYPS)

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) – Research analysts at Northland Capmk increased their FY2024 earnings per share estimates for PLAYSTUDIOS in a research report issued on Tuesday, May 7th. Northland Capmk analyst G. Gibas now expects that the company will post earnings of ($0.06) per share for the year, up from their previous estimate of ($0.09). The consensus estimate for PLAYSTUDIOS’s current full-year earnings is $0.01 per share.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.12). PLAYSTUDIOS had a negative return on equity of 7.19% and a negative net margin of 6.24%. The firm had revenue of $77.11 million for the quarter, compared to analysts’ expectations of $75.95 million.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price objective on PLAYSTUDIOS from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of PLAYSTUDIOS in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, PLAYSTUDIOS presently has a consensus rating of “Hold” and a consensus price target of $4.67.

PLAYSTUDIOS Stock Up 1.2 %

MYPS stock opened at $2.45 on Thursday. PLAYSTUDIOS has a 52 week low of $1.90 and a 52 week high of $5.01. The firm has a market capitalization of $333.71 million, a P/E ratio of -16.33, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63. The company has a fifty day simple moving average of $2.43 and a two-hundred day simple moving average of $2.47.

Institutional Investors Weigh In On PLAYSTUDIOS

Large investors have recently modified their holdings of the business. Sherbrooke Park Advisers LLC purchased a new position in PLAYSTUDIOS in the third quarter valued at about $33,000. Victory Capital Management Inc. purchased a new stake in shares of PLAYSTUDIOS during the 4th quarter valued at $31,000. Principal Financial Group Inc. acquired a new stake in shares of PLAYSTUDIOS in the 3rd quarter worth $38,000. Quadrature Capital Ltd acquired a new position in PLAYSTUDIOS during the 4th quarter valued at about $55,000. Finally, M&T Bank Corp raised its stake in PLAYSTUDIOS by 21.5% in the third quarter. M&T Bank Corp now owns 23,805 shares of the company’s stock valued at $76,000 after buying an additional 4,218 shares during the last quarter. Institutional investors own 37.52% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Corp Microsoft sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $1.95, for a total value of $1,950,000.00. Following the completion of the sale, the insider now owns 11,677,398 shares in the company, valued at $22,770,926.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.29% of the stock is currently owned by insiders.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.