Shares of Playtika Holding Corp. (PLTK -3.11%) plunged on Wednesday, down by 25% as of 12:30 p.m. EDT. The sharp move lower came after the mobile gaming platform specialist reduced its short-term growth and earnings outlook in its third-quarter earnings report. Image source: Getty Images. So what
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What happened
Shares of Playtika Holding Corp. ( PLTK -2.01% ) plunged on Wednesday, down by 25% as of 12:30 p.m. EDT. The sharp move lower came after the mobile gaming platform specialist reduced its short-term growth and earnings outlook in its third-quarter earnings report.
So what
Sales for the three-month period that ended in late September rose 4% to mark a slight acceleration compared to the prior quarter's 1% uptick. The platform notched a few important operating wins, too, with several of its casual and casino gaming products expanding their player bases.
Now what
Yet Wall Street was more focused on the company's 2021 outlook, which edged down. Antokol and his team now see revenue landing at about $2.57 billion rather than the $2.6 billion they had predicted back in early August. Adjusted earnings will be slightly lower than their previous forecast of $1 billion.
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What happened
Shareholders of Playtika Holding (NASDAQ: PLTK) endured significant losses on Monday as shares fell 15% by 3:15 p.m. ET, compared to a 2.6% plunge in the wider market. The drop pushed the mobile-gaming platform specialist further into negative territory, down nearly 50% in the past year.
So what
Playtika announced in a press release that Playtika Holding UK II, its largest shareholder, is exploring a potential sale of a portion of its stock. The sale, which would take place through several public and private transactions, might amount to between 15% and 25% of the entire outstanding shares for the company.
Now what
On the bright side, it's possible that the stock sales would push Playtika Holding UK II below the rate that currently qualifies it as a controlling shareholder. That shift might be good news for shareholders, since it would give them more influence over the growth stock 's business.
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What is the price target for PLTK in 2021?
On Nov 04, 2021 "Wedbush" gave "$42.00 - $35.00" rating for PLTK. The price target was changed from $21.32 to 6.2% .
Is Playtika Holding Corp. a negative stock?
Playtika Holding Corp. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Is RSI 14 oversold?
RSImin/max Values: [ 30 - 75 ] RSI14 is 5 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
Is Playtika oversold on RSI?
Playtika Holding Corp. is oversold on RSI14 (5). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
How much is Playtika stock worth in 2021?
Playtika also refinanced part of its $3 billion in debt, cutting costs by an estimated $80 million, and it increased its outlook for 2021 results. At the moment, Playtika’s stock price is $25.59, down 4.6%. Now it has nine of the top 100 grossing games in the U.S. Those top nine games generate around 97.6% of revenue.
Who owns Playtika?
Playtika’s owners sold it to Caesars Interactive Entertainment in 2011, and then a group led by Giant’s owner Shi Yuzhu acquired it in 2016. Playtika has has acquired numerous companies like Wooga, Seriously, and Supertreat over the years, with seven deals altogether. Wooga’s June’s Journey is doing well under Playtika’s ownership. Playtika has more than 35 million daily active users.
How many games does Playtika have?
All told, the company has 20 games, and Playtika said it has more titles in the top 100 games than anyone else. The company’s first hit, Slotomania, is still one of the top games. “I say to my guys that I control only what I control,” said CEO Robert Antokol in an interview with GamesBeat.
Who owns Bingo Blitz?
Playtika acquired Bingo Blitz in 2013, World Series of Poker Social in 2014, House of Fun in 2015, and Jelly Button, the maker of Pirate Kings, in 2017. Playtika has since has acquired numerous companies over the years, such as Wooga, Seriously, and Supertreat, with seven deals altogether.
Is Playtika a public company?
Playtika reported financial results for the first quarter that topped last year’s performance today. But its stock price fell 5% in early trading after the company’s second quarterly report as a public company.
