Research Analysts Set Expectations for Playtika Holding Corp.’s Q2 2022 Earnings (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTKGet Rating) – Equities researchers at Wedbush lowered their Q2 2022 earnings per share (EPS) estimates for shares of Playtika in a research note issued on Tuesday, May 10th. Wedbush analyst M. Pachter now anticipates that the company will post earnings per share of $0.15 for the quarter, down from their previous forecast of $0.23. Wedbush also issued estimates for Playtika’s Q3 2022 earnings at $0.16 EPS, Q4 2022 earnings at $0.18 EPS, Q1 2023 earnings at $0.22 EPS, Q2 2023 earnings at $0.23 EPS, Q3 2023 earnings at $0.24 EPS, FY2023 earnings at $0.95 EPS and Q1 2024 earnings at $0.26 EPS.

Playtika (NASDAQ:PLTKGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The company had revenue of $679.60 million during the quarter, compared to analyst estimates of $641.85 million. Playtika had a negative return on equity of 71.45% and a net margin of 13.58%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share.

Other analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of Playtika from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $27.00 to $22.00 in a research note on Tuesday, April 19th. Credit Suisse Group cut their target price on shares of Playtika from $30.00 to $24.00 in a research note on Wednesday. Citigroup began coverage on shares of Playtika in a research note on Sunday, March 20th. They set a “neutral” rating and a $20.00 target price for the company. BTIG Research cut their target price on shares of Playtika from $29.00 to $22.00 in a research note on Tuesday, January 25th. Finally, Zacks Investment Research raised shares of Playtika from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $25.45.

Shares of NASDAQ:PLTK opened at $13.58 on Thursday. The company has a 50 day moving average of $17.67 and a 200-day moving average of $18.52. The firm has a market cap of $5.60 billion, a P/E ratio of 15.61 and a beta of 0.16. Playtika has a twelve month low of $11.57 and a twelve month high of $30.00.

Several hedge funds have recently added to or reduced their stakes in PLTK. Principal Financial Group Inc. increased its stake in Playtika by 5.3% in the 4th quarter. Principal Financial Group Inc. now owns 11,246 shares of the company’s stock valued at $194,000 after buying an additional 567 shares during the period. Credit Suisse AG increased its stake in Playtika by 1.5% in the 4th quarter. Credit Suisse AG now owns 48,229 shares of the company’s stock valued at $834,000 after buying an additional 723 shares during the period. Wellington Management Group LLP increased its stake in Playtika by 6.7% in the 3rd quarter. Wellington Management Group LLP now owns 13,165 shares of the company’s stock valued at $364,000 after buying an additional 821 shares during the period. Pinebridge Investments L.P. increased its stake in Playtika by 11.5% in the 1st quarter. Pinebridge Investments L.P. now owns 13,204 shares of the company’s stock valued at $255,000 after buying an additional 1,358 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Playtika by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 28,194 shares of the company’s stock valued at $487,000 after buying an additional 1,657 shares during the period. Institutional investors and hedge funds own 20.08% of the company’s stock.

About Playtika (Get Rating)

Playtika Holding Corp. develops mobile games in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company owns a portfolio of casual and casino-themed games. It distributes its games to the end customer through various web and mobile platforms, such as Apple, Facebook, Google, and other web and mobile platforms and its own proprietary platforms.

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Earnings History and Estimates for Playtika (NASDAQ:PLTK)

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