Playtech (LON:PTEC) Trading Up 10.2% – What’s Next?

Playtech plc (LON:PTEC)’s stock price shot up 10.2% during mid-day trading on Tuesday . The stock traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares traded hands during trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PTEC shares. Jefferies Financial Group downgraded Playtech to a “hold” rating and decreased their target price for the stock from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research report on Friday, January 23rd.

Playtech Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The stock’s 50-day moving average price is GBX 283.77 and its 200-day moving average price is GBX 322.89. The company has a market capitalization of £992.89 million, a price-to-earnings ratio of 0.60, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.