PLAYSTUDIOS, Inc. (NASDAQ:MYPS) to Post FY2024 Earnings of ($0.06) Per Share, Northland Capmk Forecasts

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) – Equities research analysts at Northland Capmk boosted their FY2024 earnings per share (EPS) estimates for shares of PLAYSTUDIOS in a research note issued to investors on Tuesday, May 7th. Northland Capmk analyst G. Gibas now anticipates that the company will post earnings of ($0.06) per share for the year, up from their previous forecast of ($0.09). The consensus estimate for PLAYSTUDIOS’s current full-year earnings is $0.01 per share.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, March 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The company had revenue of $77.11 million during the quarter, compared to the consensus estimate of $75.95 million. PLAYSTUDIOS had a negative net margin of 6.24% and a negative return on equity of 7.19%.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of PLAYSTUDIOS from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of PLAYSTUDIOS in a research note on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, PLAYSTUDIOS has a consensus rating of “Hold” and a consensus target price of $4.67.

PLAYSTUDIOS Price Performance

MYPS opened at $2.45 on Thursday. PLAYSTUDIOS has a 1-year low of $1.90 and a 1-year high of $5.01. The company has a market capitalization of $333.71 million, a price-to-earnings ratio of -16.33, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63. The business has a 50 day moving average price of $2.43 and a two-hundred day moving average price of $2.47.

Insider Transactions at PLAYSTUDIOS

In other PLAYSTUDIOS news, major shareholder Corp Microsoft sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $1.95, for a total value of $1,950,000.00. Following the completion of the sale, the insider now owns 11,677,398 shares in the company, valued at approximately $22,770,926.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.29% of the stock is owned by company insiders.

Institutional Trading of PLAYSTUDIOS

A number of hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in shares of PLAYSTUDIOS during the fourth quarter worth $31,000. Sherbrooke Park Advisers LLC bought a new position in PLAYSTUDIOS during the 3rd quarter worth about $33,000. Principal Financial Group Inc. bought a new position in PLAYSTUDIOS during the 3rd quarter worth about $38,000. Quadrature Capital Ltd acquired a new stake in shares of PLAYSTUDIOS in the 4th quarter valued at about $55,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of PLAYSTUDIOS in the fourth quarter valued at about $67,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

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.