PLTK Stock Recent News

Playtika Holding Corp. (NASDAQ:PLTK ) Q3 2023 Results Conference Call November 8, 2023 8:30 AM ET Company Participants Tae Lee - Senior Vice President, Corporate Finance & Investor Relations Robert Antokol - Co-Founder & Chief Executive Officer Craig Abrahams - President & Chief Financial Officer Nir Korczak - Chief Marketing Officer Conference Call Participants Aaron Lee - Macquarie Arthur Chu - Bank of America Eric Sheridan - Goldman Sachs Colin Sebastian - Baird Dave Nwokonko - Morgan Stanley Operator Good day and thank you for standing by. Welcome to the Playtika Q3 2023 Earnings Call.

HERZLIYA, Israel, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ:PLTK) announced today it will release financial results for the third quarter 2023 before U.S. markets open on Wednesday, November 8, 2023.

Playtika (PLTK) acquires Israel's mobile gaming studio, Innplay Labs, thereby optimizing high-growth potential IP, like 'Animals & Coins'.

Playtika Holding Corp. offers mobile games on social networks and mobile platforms worldwide. The company is projecting a slight revenue decline in 2023 as it focuses on enhancing its direct-to-consumer approach. Until we begin to see a return to revenue growth, I remain Neutral [Hold] on Playtika Holding Corp. stock.

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Investors need to pay close attention to Playtika (PLTK) stock based on the movements in the options market lately.

The headline numbers for Playtika (PLTK) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Playtika Holding (PLTK) came out with quarterly earnings of $0.21 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.09 per share a year ago.

I upgrade Playtika, a leading mobile game publisher in the US, to a buy due to its improved technical setup, solid valuation, and impressive free cash flow. The company's earnings are expected to rise steadily this year and next, with acceleration expected in 2025. Despite competition in the Social Casino space, Playtika's strong operating cash flow and resilient consumer spending trends make it less susceptible to higher interest rates.

Stocks like DKNG, PLTK and CRSR are likely to benefit from improving visitation. Moreover, robust demand for sports betting is aiding the industry.