Bank of America Upgrades Playtika (NASDAQ:PLTK) to “Buy”

Playtika (NASDAQ:PLTK) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm presently has a $6.50 price objective on the stock, up from their prior price objective of $6.00. Bank of America‘s target price suggests a potential upside of 25.00% from the company’s current price.

Several other analysts have also recently commented on the company. Robert W. Baird restated a “neutral” rating and issued a $6.00 price target (down previously from $9.00) on shares of Playtika in a report on Friday, February 28th. Wedbush restated an “outperform” rating and issued a $11.50 target price on shares of Playtika in a report on Wednesday, February 26th. Citigroup cut their price target on shares of Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Macquarie decreased their price target on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Baird R W downgraded Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Playtika presently has an average rating of “Hold” and an average price target of $8.09.

Playtika Stock Down 1.9 %

PLTK stock opened at $5.20 on Wednesday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. Playtika has a 52-week low of $3.97 and a 52-week high of $9.16. The stock’s fifty day simple moving average is $6.22 and its 200-day simple moving average is $7.20.

Institutional Trading of Playtika

A number of institutional investors have recently added to or reduced their stakes in PLTK. Allspring Global Investments Holdings LLC lifted its stake in shares of Playtika by 23,814.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock worth $4,592,000 after purchasing an additional 663,700 shares in the last quarter. State Street Corp raised its holdings in shares of Playtika by 12.9% during the 3rd quarter. State Street Corp now owns 1,317,709 shares of the company’s stock valued at $10,564,000 after buying an additional 150,878 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Playtika by 14.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,137,595 shares of the company’s stock valued at $9,010,000 after buying an additional 142,112 shares during the period. JPMorgan Chase & Co. lifted its position in Playtika by 102.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company’s stock worth $635,000 after acquiring an additional 40,604 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Playtika by 76.2% in the 4th quarter. SG Americas Securities LLC now owns 175,008 shares of the company’s stock worth $1,215,000 after acquiring an additional 75,702 shares during the period. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.