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

PLAYSTUDIOS (NASDAQ:MYPS) posted its earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating 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 business had revenue of $71.23 million for the quarter, compared to analyst estimates of $69.62 million. During the same period last year, the business posted $0.02 EPS. PLAYSTUDIOS updated its FY 2024 guidance to EPS.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock remained flat at $1.58 on Thursday. 37,393 shares of the company’s stock traded hands, compared to its average volume of 270,152. The firm has a 50 day simple moving average of $1.49 and a two-hundred day simple moving average of $1.88. The stock has a market capitalization of $196.96 million, a price-to-earnings ratio of -8.45 and a beta of 0.61. PLAYSTUDIOS has a 12-month low of $1.20 and a 12-month high of $3.04.

Analysts Set New Price Targets

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

Insider Activity at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.29% of the stock is currently owned by insiders.

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.