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

PLAYSTUDIOS (NASDAQ:MYPS) announced its quarterly earnings data on Monday. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $69.62 million. During the same period in the previous year, the business earned $0.02 EPS. PLAYSTUDIOS updated its FY 2024 guidance to EPS.

PLAYSTUDIOS Trading Up 8.2 %

MYPS stock traded up $0.12 during trading on Wednesday, reaching $1.58. The stock had a trading volume of 422,481 shares, compared to its average volume of 271,235. The firm has a market cap of $196.96 million, a PE ratio of -11.39 and a beta of 0.61. The stock’s 50 day moving average is $1.49 and its two-hundred day moving average is $1.88. PLAYSTUDIOS has a 52 week low of $1.20 and a 52 week high of $3.04.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MYPS. Stifel Nicolaus decreased their price target on 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 lowered PLAYSTUDIOS from a “buy” rating to a “hold” rating and decreased their target price for the stock from $4.00 to $2.00 in a research report on Tuesday, August 6th. Northland Securities dropped their price target on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Benchmark lowered shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th.

Insider Buying and Selling at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 583,998 shares in the company, valued at $875,997. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.