Benchmark Reiterates Buy Rating for PLAYSTUDIOS (NASDAQ:MYPS)

PLAYSTUDIOS (NASDAQ:MYPS)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $5.00 price target on the stock. Benchmark’s target price points to a potential upside of 104.08% from the company’s previous close.

Separately, Stifel Nicolaus cut their price objective on PLAYSTUDIOS from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.67.

PLAYSTUDIOS Price Performance

Shares of MYPS stock opened at $2.45 on Tuesday. The business has a 50 day simple moving average of $2.43 and a 200 day simple moving average of $2.48. The firm has a market capitalization of $333.71 million, a price-to-earnings ratio of -16.13, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63. PLAYSTUDIOS has a 12-month low of $1.90 and a 12-month high of $5.01.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, March 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The company had revenue of $77.11 million during the quarter, compared to the consensus estimate of $75.95 million. PLAYSTUDIOS had a negative net margin of 6.24% and a negative return on equity of 7.19%. On average, equities analysts anticipate that PLAYSTUDIOS will post 0.01 EPS for the current fiscal year.

Insider Transactions at PLAYSTUDIOS

In related news, major shareholder Corp Microsoft sold 1,000,000 shares of PLAYSTUDIOS stock in a transaction dated 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 transaction, the insider now owns 11,677,398 shares of the company’s stock, valued at approximately $22,770,926.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.29% of the stock is owned by insiders.

Hedge Funds Weigh In On PLAYSTUDIOS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYPS. Victory Capital Management Inc. acquired a new stake in PLAYSTUDIOS during the 4th quarter worth about $31,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of PLAYSTUDIOS during the third quarter worth approximately $33,000. Principal Financial Group Inc. purchased a new position in PLAYSTUDIOS during the third quarter valued at approximately $38,000. Quadrature Capital Ltd acquired a new position in PLAYSTUDIOS in the 4th quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in PLAYSTUDIOS in the 4th quarter worth approximately $67,000. Institutional investors and hedge funds own 37.52% of the company’s stock.

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.