Analysts Set PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Target Price at $2.00

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have received an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $2.00.

MYPS has been the topic of a number of research reports. Wall Street Zen downgraded PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Zacks Research cut shares of PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday, December 29th. Finally, Benchmark reduced their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a research report on Tuesday, November 4th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new stake in shares of PLAYSTUDIOS during the 2nd quarter valued at $1,287,000. Almitas Capital LLC acquired a new stake in shares of PLAYSTUDIOS during the third quarter worth $897,000. Ameriprise Financial Inc. lifted its holdings in shares of PLAYSTUDIOS by 35.2% during the second quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after purchasing an additional 870,521 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of PLAYSTUDIOS by 46.3% in the 3rd quarter. Mackenzie Financial Corp now owns 826,631 shares of the company’s stock valued at $796,000 after purchasing an additional 261,518 shares during the period. Finally, Jane Street Group LLC increased its stake in PLAYSTUDIOS by 146.5% in the 2nd quarter. Jane Street Group LLC now owns 394,720 shares of the company’s stock worth $517,000 after purchasing an additional 234,602 shares in the last quarter. Institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Price Performance

Shares of MYPS opened at $0.63 on Thursday. The stock has a fifty day moving average price of $0.65 and a 200 day moving average price of $0.87. The company has a market cap of $79.22 million, a P/E ratio of -2.17 and a beta of 0.89. PLAYSTUDIOS has a 12 month low of $0.57 and a 12 month high of $1.91.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, November 3rd. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. The business had revenue of $57.65 million for the quarter, compared to the consensus estimate of $58.77 million. As a group, research analysts anticipate that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

About PLAYSTUDIOS

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.