PLAYSTUDIOS (NASDAQ:MYPS) Issues Quarterly Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) issued 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 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 analysts' expectations of $69.62 million. During the same quarter last year, the company posted $0.02 earnings per share. PLAYSTUDIOS updated its FY 2024 guidance to EPS.

PLAYSTUDIOS Price Performance

Shares of NASDAQ MYPS traded up $0.08 during midday trading on Tuesday, reaching $1.46. 287,510 shares of the company traded hands, compared to its average volume of 270,275. The company has a market cap of $182.00 million, a price-to-earnings ratio of -10.39 and a beta of 0.61. The stock has a 50-day moving average price of $1.49 and a 200 day moving average price of $1.88. PLAYSTUDIOS has a 52 week low of $1.20 and a 52 week high of $3.04.

Wall Street Analyst Weigh In

MYPS has been the topic of a number of research reports. Benchmark cut PLAYSTUDIOS from a "buy" rating to a "hold" rating in a research report on Tuesday, August 6th. 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 note on Friday, October 18th. Craig Hallum downgraded shares of PLAYSTUDIOS from a "buy" rating to a "hold" rating and reduced their price target for the company from $4.00 to $2.00 in a report on Tuesday, August 6th. Finally, Northland Securities dropped their price objective 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.

Insider Activity at PLAYSTUDIOS

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 transaction of $37,500.00. Following the transaction, the chief financial officer now directly owns 583,998 shares in the company, valued at approximately $875,997. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.29% of the stock is currently owned by insiders.

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.