Playtech (LON:PTEC) Stock Price Up 9.2% – Time to Buy?

Playtech plc (LON:PTEC)’s share price rose 9.2% during mid-day trading on Tuesday . The stock traded as high as GBX 308 and last traded at GBX 298. Approximately 2,091,662 shares changed hands during mid-day trading, an increase of 141% from the average daily volume of 868,488 shares. The stock had previously closed at GBX 273.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Jefferies Financial Group cut shares of Playtech to a “hold” rating and dropped their price target for the company from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday, January 23rd.

Playtech Stock Down 1.9%

The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The company has a fifty day simple moving average of GBX 278.37 and a 200 day simple moving average of GBX 328.81. The firm has a market capitalization of £845.29 million, a P/E ratio of 0.51, a P/E/G ratio of 1.28 and a beta of 1.26.

About Playtech

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.