Playtech (LON:PTEC) Trading 10.2% Higher – Here’s Why

Playtech plc (LON:PTEC)’s stock price traded up 10.2% during mid-day trading on Tuesday . The company traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Jefferies Financial Group downgraded Playtech to a “hold” rating and decreased their price target for the stock from GBX 405 to GBX 240 in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research note on Friday, January 23rd.

Playtech Stock Up 10.2%

The firm has a market cap of £992.89 million, a P/E ratio of 0.60, a P/E/G ratio of 1.28 and a beta of 1.26. The business has a fifty day moving average of GBX 283.77 and a 200 day moving average of GBX 322.89. The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06.

Playtech Company Profile

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.