Playtech (LON:PTEC) Price Target Raised to GBX 400

Playtech (LON:PTEC) had its price objective hoisted by Citigroup from GBX 355 to GBX 400 in a research note released on Monday morning,London Stock Exchange reports. Citigroup currently has a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft dropped their target price on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research report on Friday, January 23rd.

Playtech Stock Performance

Playtech stock opened at GBX 355.06 on Monday. Playtech has a 12-month low of GBX 210 and a 12-month high of GBX 447. The company has a debt-to-equity ratio of 24.36, a current ratio of 1.42 and a quick ratio of 1.09. The company has a market capitalization of £1.00 billion, a price-to-earnings ratio of 0.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. The firm’s fifty day moving average price is GBX 332.20 and its 200 day moving average price is GBX 307.09.

Playtech declared that its board has approved a share repurchase program on Friday, March 27th that allows the company to repurchase 5,660,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Playtech Company Profile

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.