Playtech (LON:PTEC) Trading 9.7% Higher – What’s Next?

Playtech plc (LON:PTEC)’s share price was up 9.7% during mid-day trading on Tuesday . The company traded as high as GBX 308 and last traded at GBX 299.55. Approximately 1,677,764 shares were traded during mid-day trading, an increase of 98% from the average daily volume of 845,494 shares. The stock had previously closed at GBX 273.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PTEC. Deutsche Bank Aktiengesellschaft lowered their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a report on Friday, January 23rd. Jefferies Financial Group lowered Playtech to a “hold” rating and decreased their target price for the stock from GBX 405 to GBX 240 in a research report on Tuesday, November 25th.

Playtech Trading Down 1.9%

The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The business has a fifty day moving average of GBX 278.37 and a 200-day moving average of GBX 328.81. The stock has a market capitalization of £845.29 million, a price-to-earnings ratio of 0.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.