Playtika (NASDAQ:PLTK) Price Target Cut to $5.50 by Analysts at Citigroup

Playtika (NASDAQ:PLTK) had its price objective dropped by equities researchers at Citigroup from $7.00 to $5.50 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 58.50% from the stock’s current price.

PLTK has been the subject of a number of other reports. Wedbush reissued an “outperform” rating and set a $7.00 price target on shares of Playtika in a research note on Friday, October 31st. Wall Street Zen downgraded Playtika from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Weiss Ratings upgraded Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Finally, Loop Capital set a $3.75 target price on shares of Playtika in a report on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Playtika currently has a consensus rating of “Hold” and a consensus target price of $5.56.

Playtika Stock Up 0.3%

PLTK stock traded up $0.01 during mid-day trading on Friday, hitting $3.47. The company had a trading volume of 1,021,591 shares, compared to its average volume of 1,471,520. The company has a 50-day moving average price of $3.72 and a 200 day moving average price of $3.78. Playtika has a 12-month low of $3.25 and a 12-month high of $7.19. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.96 and a beta of 0.84.

Hedge Funds Weigh In On Playtika

Several large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in Playtika during the 2nd quarter valued at $27,000. Kestra Advisory Services LLC bought a new position in Playtika during the fourth quarter valued at $32,000. Comerica Bank raised its stake in shares of Playtika by 278.9% in the fourth 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. Signaturefd LLC lifted its holdings in shares of Playtika by 129.8% in the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock worth $36,000 after acquiring an additional 5,147 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Playtika during the 4th quarter worth about $41,000. Institutional investors own 11.94% of the company’s stock.

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.