Benchmark Cuts PLAYSTUDIOS (NASDAQ:MYPS) Price Target to $1.50

PLAYSTUDIOS (NASDAQ:MYPS) had its price objective cut by Benchmark from $2.00 to $1.50 in a research report released on Tuesday morning,Benzinga reports. They currently have a speculative buy rating on the stock.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.00.

PLAYSTUDIOS Stock Down 11.0%

Shares of NASDAQ:MYPS opened at $0.76 on Tuesday. PLAYSTUDIOS has a fifty-two week low of $0.75 and a fifty-two week high of $2.29. The firm’s 50 day moving average price is $0.95 and its 200 day moving average price is $1.17. The stock has a market cap of $94.94 million, a price-to-earnings ratio of -2.61 and a beta of 0.87.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.66%. The firm had revenue of $57.65 million during the quarter, compared to analysts’ expectations of $58.77 million. PLAYSTUDIOS has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that PLAYSTUDIOS will post -0.17 EPS for the current year.

Institutional Trading of PLAYSTUDIOS

Institutional investors and hedge funds have recently made changes to their positions in the company. Balyasny Asset Management L.P. acquired a new stake in shares of PLAYSTUDIOS in the 2nd quarter valued at about $1,287,000. Ameriprise Financial Inc. boosted its holdings in shares of PLAYSTUDIOS by 35.2% in the second quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after acquiring an additional 870,521 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of PLAYSTUDIOS by 118.5% in the first quarter. Mackenzie Financial Corp now owns 575,737 shares of the company’s stock valued at $731,000 after acquiring an additional 312,286 shares during the period. Jane Street Group LLC grew its position in shares of PLAYSTUDIOS by 146.5% during the second quarter. Jane Street Group LLC now owns 394,720 shares of the company’s stock worth $517,000 after acquiring an additional 234,602 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of PLAYSTUDIOS in the 1st quarter valued at $277,000. 37.52% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.