Citigroup Cuts Playtika (NASDAQ:PLTK) Price Target to $4.00

Playtika (NASDAQ:PLTK) had its price objective decreased by Citigroup from $4.50 to $4.00 in a research report report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms have also weighed in on PLTK. Wedbush boosted their price objective on Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. TD Cowen reiterated a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a report on Wednesday, August 26th. The Goldman Sachs Group set a $3.75 price objective on shares of Playtika in a research report on Friday, August 7th. Finally, Roth Capital reduced their target price on shares of Playtika from $3.50 to $2.75 and set a “neutral” rating on the stock in a research note on Monday, August 31st. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.79.

Playtika Price Performance

PLTK stock opened at $2.20 on Thursday. The business has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $3.26. The firm has a market capitalization of $839.12 million, a PE ratio of -3.01 and a beta of 1.00. Playtika has a 1 year low of $2.09 and a 1 year high of $4.42.

Institutional Trading of Playtika

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Independent Financial Group LLC acquired a new position in Playtika in the first quarter valued at about $28,000. Kestra Advisory Services LLC acquired a new stake in shares of Playtika during the fourth quarter valued at about $32,000. Comerica Bank raised its stake in shares of Playtika by 278.9% in the 4th quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after acquiring an additional 6,704 shares during the period. ProShare Advisors LLC purchased a new stake in shares of Playtika in the 4th quarter valued at approximately $41,000. Finally, Keynote Financial Services LLC acquired a new position in shares of Playtika in the 4th quarter worth approximately $41,000. 11.94% of the stock is owned by institutional investors and hedge funds.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.