PLAYSTUDIOS (NASDAQ:MYPS) Releases Quarterly Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) announced its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01, Zacks reports. The company had revenue of $72.59 million for the quarter, compared to the consensus estimate of $73.49 million. PLAYSTUDIOS had a negative net margin of 5.64% and a negative return on equity of 6.73%. During the same quarter in the prior year, the firm earned ($0.02) earnings per share.

PLAYSTUDIOS Stock Performance

Shares of NASDAQ:MYPS traded down $0.23 during trading on Tuesday, reaching $1.71. The company had a trading volume of 489,382 shares, compared to its average volume of 281,853. The firm’s fifty day moving average is $2.14 and its 200 day moving average is $2.29. PLAYSTUDIOS has a twelve month low of $1.58 and a twelve month high of $4.01. The firm has a market capitalization of $230.51 million, a PE ratio of -12.96, a price-to-earnings-growth ratio of 7.07 and a beta of 0.63.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MYPS. Craig Hallum downgraded shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and reduced their price objective for the company from $4.00 to $2.00 in a research note on Tuesday. Benchmark lowered shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Northland Securities lowered their price target on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, PLAYSTUDIOS presently has an average rating of “Hold” and a consensus price target of $3.75.

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.