PLAYSTUDIOS (NASDAQ:MYPS) Announces 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, topping analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports. PLAYSTUDIOS had a negative return on equity of 6.73% and a negative net margin of 5.64%. The business had revenue of $72.59 million during the quarter, compared to analysts’ expectations of $73.49 million. During the same period in the prior year, the business earned ($0.02) EPS.

PLAYSTUDIOS Stock Performance

MYPS traded down $0.09 during mid-day trading on Wednesday, reaching $1.63. 135,963 shares of the stock were exchanged, compared to its average volume of 280,887. The stock has a market capitalization of $219.06 million, a PE ratio of -13.15, a price-to-earnings-growth ratio of 7.07 and a beta of 0.63. The company has a 50 day moving average price of $2.13 and a two-hundred day moving average price of $2.28. PLAYSTUDIOS has a 1 year low of $1.58 and a 1 year high of $4.01.

Wall Street Analysts Forecast Growth

MYPS has been the subject of several recent analyst reports. Benchmark downgraded PLAYSTUDIOS from a “buy” rating to a “hold” rating in a report on Tuesday. Northland Securities cut their price target on PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Craig Hallum cut PLAYSTUDIOS from a “buy” rating to a “hold” rating and cut their price target for the stock from $4.00 to $2.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.75.

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.