PLAYSTUDIOS FY2024 EPS Estimate Lowered by Northland Capmk

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) – Stock analysts at Northland Capmk reduced their FY2024 EPS estimates for shares of PLAYSTUDIOS in a research note issued to investors on Tuesday, November 5th. Northland Capmk analyst G. Gibas now forecasts that the company will post earnings of ($0.16) per share for the year, down from their previous forecast of ($0.12). The consensus estimate for PLAYSTUDIOS’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for PLAYSTUDIOS’s Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.05) EPS.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. The firm had revenue of $71.23 million for the quarter, compared to analyst estimates of $69.62 million. During the same period in the previous year, the business posted $0.02 earnings per share.

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

PLAYSTUDIOS Price Performance

MYPS stock opened at $1.58 on Thursday. The business has a 50 day simple moving average of $1.49 and a 200-day simple moving average of $1.88. The firm has a market capitalization of $196.96 million, a PE ratio of -11.28 and a beta of 0.61. PLAYSTUDIOS has a 1 year low of $1.20 and a 1 year high of $3.04.

Institutional Trading of PLAYSTUDIOS

A number of institutional investors and hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC acquired a new position in PLAYSTUDIOS during the 2nd quarter valued at about $25,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of PLAYSTUDIOS by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock worth $70,000 after buying an additional 4,546 shares during the period. Williams & Novak LLC purchased a new stake in PLAYSTUDIOS in the 2nd quarter worth about $59,000. SG Americas Securities LLC increased its stake in PLAYSTUDIOS by 82.4% in the 3rd quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock valued at $46,000 after buying an additional 13,846 shares during the period. Finally, AQR Capital Management LLC purchased a new position in PLAYSTUDIOS in the second quarter valued at about $68,000. 37.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total value of $37,500.00. Following the completion of the sale, the chief financial officer now owns 583,998 shares in the company, valued at approximately $875,997. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.29% of the company’s stock.

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.