Playtech (LON:PTEC) Shares Up 10.2% – Time to Buy?

Shares of Playtech plc (LON:PTEC) traded up 10.2% during trading on Tuesday . The stock traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares were traded during mid-day trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Wall Street Analysts Forecast Growth

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

Playtech Price Performance

The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The company has a market cap of £992.89 million, a price-to-earnings ratio of 0.60, a PEG ratio of 1.28 and a beta of 1.26. The business has a fifty day moving average price of GBX 283.77 and a 200 day moving average price of GBX 322.89.

About Playtech

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.