PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Receives $2.00 Consensus Target Price from Brokerages

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have been assigned an average recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $2.00.

Several research firms recently commented on MYPS. Zacks Research cut PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. Benchmark decreased their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th.

PLAYSTUDIOS Trading Down 11.0%

PLAYSTUDIOS stock opened at $0.58 on Thursday. PLAYSTUDIOS has a 1-year low of $0.57 and a 1-year high of $1.90. The firm has a market capitalization of $72.97 million, a PE ratio of -2.00 and a beta of 0.89. The firm’s 50 day simple moving average is $0.64 and its 200 day simple moving average is $0.86.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $57.65 million during the quarter, compared to the consensus estimate of $58.77 million. PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. Research analysts forecast that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Institutional Trading of PLAYSTUDIOS

A number of hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. purchased a new position in PLAYSTUDIOS in the second quarter worth $1,287,000. Almitas Capital LLC bought a new stake in PLAYSTUDIOS during the third quarter worth about $897,000. Ameriprise Financial Inc. boosted its holdings in shares of PLAYSTUDIOS by 35.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock worth $4,378,000 after purchasing an additional 870,521 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of PLAYSTUDIOS by 46.3% in the 3rd quarter. Mackenzie Financial Corp now owns 826,631 shares of the company’s stock worth $796,000 after purchasing an additional 261,518 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of PLAYSTUDIOS by 146.5% during the 2nd quarter. Jane Street Group LLC now owns 394,720 shares of the company’s stock valued at $517,000 after purchasing an additional 234,602 shares during the last quarter. 37.52% of the stock is owned by institutional investors.

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.