PLAYSTUDIOS (NASDAQ:MYPS) Issues Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) announced its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $71.23 million during the quarter, compared to the consensus estimate of $69.62 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. PLAYSTUDIOS updated its FY 2024 guidance to EPS.

PLAYSTUDIOS Price Performance

Shares of PLAYSTUDIOS stock traded up $0.11 on Tuesday, hitting $1.49. The company had a trading volume of 160,930 shares, compared to its average volume of 269,683. PLAYSTUDIOS has a 52 week low of $1.20 and a 52 week high of $3.04. The company has a market cap of $185.74 million, a PE ratio of -10.39 and a beta of 0.61. The business has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $1.88.

Insiders Place Their Bets

In related news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 583,998 shares of the company’s stock, valued at $875,997. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.