PLAYSTUDIOS (NASDAQ:MYPS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

PLAYSTUDIOS (NASDAQ:MYPS) announced its quarterly earnings data on Monday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports. The business had revenue of $71.23 million during the quarter, compared to the consensus estimate of $69.62 million. PLAYSTUDIOS had a negative return on equity of 7.25% and a negative net margin of 6.34%. During the same period in the previous year, the company posted $0.02 earnings per share. PLAYSTUDIOS updated its FY 2024 guidance to EPS.

PLAYSTUDIOS Stock Up 1.3 %

Shares of MYPS traded up $0.02 during trading hours on Thursday, reaching $1.60. 56,347 shares of the company traded hands, compared to its average volume of 270,240. The stock has a fifty day simple moving average of $1.49 and a 200 day simple moving average of $1.88. PLAYSTUDIOS has a fifty-two week low of $1.20 and a fifty-two week high of $3.04. The stock has a market capitalization of $199.46 million, a PE ratio of -8.45 and a beta of 0.61.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction on Wednesday, October 16th. The stock was 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 of the company’s stock, valued at $875,997. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.29% of the company’s stock.

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.