PLAYSTUDIOS (NASDAQ:MYPS) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of PLAYSTUDIOS (NASDAQ:MYPS) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “PLAYSTUDIOS Inc. is the developer and operator of free-to-play casual games for mobile and social platforms. PLAYSTUDIOS Inc., formerly known as Acies Acquisition Corp., is based in LAS VEGAS. “

Several other brokerages have also issued reports on MYPS. Craig Hallum dropped their price target on PLAYSTUDIOS from $15.00 to $10.00 and set a buy rating for the company in a research note on Thursday, August 12th. Northland Securities began coverage on PLAYSTUDIOS in a research note on Wednesday, July 14th. They set a buy rating and a $15.00 price target for the company. Morgan Stanley began coverage on PLAYSTUDIOS in a research note on Thursday, September 23rd. They issued an equal weight rating and a $5.25 target price for the company. Finally, Oppenheimer began coverage on PLAYSTUDIOS in a research note on Thursday, July 15th. They issued an outperform rating and a $11.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $10.31.

PLAYSTUDIOS stock opened at $4.70 on Wednesday. PLAYSTUDIOS has a 52 week low of $3.92 and a 52 week high of $13.20. The business’s 50-day simple moving average is $4.89.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results on Wednesday, August 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.05). The business had revenue of $70.82 million during the quarter, compared to analysts’ expectations of $73.05 million. As a group, equities research analysts predict that PLAYSTUDIOS will post -0.01 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYPS. Virtu Financial LLC bought a new position in PLAYSTUDIOS during the 2nd quarter valued at approximately $154,000. Wells Fargo & Company MN bought a new position in PLAYSTUDIOS during the 2nd quarter valued at approximately $823,000. Zimmer Partners LP bought a new position in PLAYSTUDIOS during the 2nd quarter valued at approximately $8,446,000. Luxor Capital Group LP bought a new position in PLAYSTUDIOS during the 2nd quarter valued at approximately $4,392,000. Finally, AJ Wealth Strategies LLC bought a new position in PLAYSTUDIOS during the 2nd quarter valued at approximately $148,000. 12.82% of the stock is owned by institutional investors.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc, a gaming studio, develops and operates free-to-play casual games for mobile and social platforms. The company's collection of titles is powered by its playAWARDS loyalty marketing platform, which enables players to earn rewards from a portfolio of entertainment, retail, technology, travel, leisure, and gaming brands across 17 countries and four continents.

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