Playtika's Core Games, Recent Acquisitions Expected to Drive Revenue, Profit Growth, Wedbush Says

MT Newswires Live

Aug 04

Playtika's (PLTK) core games and recent acquisitions should drive the company's revenue and profit growth for the next several years, Wedbush said in a note to clients Monday.

Wedbush said Playtika is "well-positioned" to benefit from a federal court's decision reiterating that Apple (AAPL) and Alphabet's Google (GOOGL, GOOG) must allow competition from mobile web stores on their respective operating platforms, given Playtika's web store operations.

With Playtika's Q2 earnings scheduled for release Aug. 7, Wedbush said it expects Q2 revenue of $710 millon and adjusted earnings before interest, taxes, depreciation and amortization of $186 million, compared with consensus estimates of $702 million and $182 million.

Wedbush added that Playtika's Q2 topline performance is expected to benefit from user acquisition investments into game titles like Domino Dreams.

The firm reiterated its outperform rating with a share price target of $11.50.

Price: 4.39, Change: +0.12, Percent Change: +2.69

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