PLAYSTUDIOS (NASDAQ:MYPS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

PLAYSTUDIOS (NASDAQ:MYPS) posted its quarterly earnings data on Monday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. The firm had revenue of $71.23 million during the quarter, compared to analyst estimates of $69.62 million. During the same quarter last year, the business posted $0.02 EPS. PLAYSTUDIOS updated its FY 2024 guidance to EPS.

PLAYSTUDIOS Price Performance

NASDAQ:MYPS traded up $0.11 during trading hours on Tuesday, reaching $1.49. The company’s stock had a trading volume of 160,930 shares, compared to its average volume of 269,683. The company has a market cap of $185.74 million, a price-to-earnings ratio of -10.39 and a beta of 0.61. PLAYSTUDIOS has a one year low of $1.20 and a one year high of $3.04. The business’s 50-day moving average is $1.49 and its 200-day moving average is $1.88.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $1.50, for a total transaction of $37,500.00. Following the completion of the sale, the chief financial officer now owns 583,998 shares of the company’s stock, valued at $875,997. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.29% of the company’s stock.

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.