Playtech (LON:PTEC) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Playtech plc (LON:PTEC)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 320.80 and traded as high as GBX 346.50. Playtech shares last traded at GBX 339, with a volume of 616,614 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on PTEC shares. Jefferies Financial Group downgraded Playtech to a “hold” rating and lowered their price target for the stock from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday, January 23rd.

Playtech Stock Performance

The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The stock’s 50-day moving average price is GBX 289.43 and its 200-day moving average price is GBX 320.80. The company has a market cap of £966.05 million, a P/E ratio of 0.59, a PEG ratio of 1.28 and a beta of 1.26.

About Playtech

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.