PLAYSTUDIOS (NASDAQ:MYPS) Stock Rating Lowered by Zacks Research

PLAYSTUDIOS (NASDAQ:MYPS) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Benchmark reduced their price objective on PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of PLAYSTUDIOS in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $2.00.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock opened at $0.80 on Thursday. PLAYSTUDIOS has a fifty-two week low of $0.74 and a fifty-two week high of $2.29. The stock has a market cap of $100.26 million, a P/E ratio of -2.76 and a beta of 0.87. The firm’s fifty day moving average price is $0.95 and its 200-day moving average price is $1.16.

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

Institutional Investors Weigh In On PLAYSTUDIOS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in PLAYSTUDIOS by 211.0% during the 3rd quarter. GSA Capital Partners LLP now owns 86,999 shares of the company’s stock valued at $84,000 after buying an additional 59,028 shares during the period. Williams & Novak LLC raised its stake in shares of PLAYSTUDIOS by 68.7% during the third quarter. Williams & Novak LLC now owns 82,450 shares of the company’s stock valued at $79,000 after acquiring an additional 33,590 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of PLAYSTUDIOS by 29.2% during the second quarter. Bridgeway Capital Management LLC now owns 396,400 shares of the company’s stock worth $519,000 after purchasing an additional 89,700 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of PLAYSTUDIOS during the second quarter worth about $1,287,000. Finally, Ameriprise Financial Inc. increased its holdings in PLAYSTUDIOS by 35.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after purchasing an additional 870,521 shares during the period. 37.52% of the stock is currently owned by institutional investors.

About PLAYSTUDIOS

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.