PLAYSTUDIOS (NASDAQ:MYPS) Issues Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) announced its quarterly earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01, Zacks reports. The firm had revenue of $71.23 million during the quarter, compared to analysts’ expectations of $69.62 million. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. During the same quarter in the prior year, the company earned $0.02 EPS. PLAYSTUDIOS updated its FY 2024 guidance to EPS.

PLAYSTUDIOS Trading Up 1.3 %

PLAYSTUDIOS stock traded up $0.02 during mid-day trading on Thursday, hitting $1.60. The company’s stock had a trading volume of 56,347 shares, compared to its average volume of 270,240. The stock’s fifty day moving average is $1.49 and its two-hundred day moving average is $1.88. The firm has a market capitalization of $199.46 million, a PE ratio of -8.45 and a beta of 0.61. PLAYSTUDIOS has a 1 year low of $1.20 and a 1 year high of $3.04.

Insider Buying and Selling at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total value of $37,500.00. Following the sale, the chief financial officer now directly owns 583,998 shares of the company’s stock, valued at approximately $875,997. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Stifel Nicolaus cut their price target on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Friday, October 18th. Benchmark lowered PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Northland Securities decreased their price target on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Finally, Craig Hallum downgraded shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and cut their price objective for the stock from $4.00 to $2.00 in a research report on Tuesday, August 6th.

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.