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Playtika (PLTK) Stock Jumps 11%: Will It Continue to Soar?

Playtika Holding (PLTK) shares ended the last trading session 11% higher at $11.50. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.2% loss over the past four weeks.

Notably, increased optimism over new game development, strategic partnerships, daily payer conversions and D2C platform have been boosting investors’ confidence. Also, attributes such as revised marketing strategy, reduced UA spend, and reassessed new feature rollouts bodes well.

This mobile game developer is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $648.8 million, up 2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Playtika, the consensus EPS estimate for the quarter has been revised 5.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PLTK going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Playtika is part of the Zacks Gaming industry. Boyd Gaming (BYD), another stock in the same industry, closed the last trading session 3.1% higher at $56.78. BYD has returned -2.7% in the past month.

Boyd's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.32. Compared to the company's year-ago EPS, this represents a change of +1.5%. Boyd currently boasts a Zacks Rank of #3 (Hold).

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