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MYPS

PLAYSTUDIOS NasdaqGM:MYPS Stock Report

Last Price

US$3.46

Market Cap

US$445.6m

7D

-1.4%

1Y

-24.8%

Updated

27 Sep, 2022

Data

Company Financials +
MYPS fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance0/6
Financial Health6/6
Dividends0/6

MYPS Stock Overview

PLAYSTUDIOS, Inc. develops and publishes free-to-play casual games for mobile and social platforms in the United States, North America, and internationally.

PLAYSTUDIOS Competitors

Price History & Performance

Summary of all time highs, changes and price drops for PLAYSTUDIOS
Historical stock prices
Current Share PriceUS$3.46
52 Week HighUS$6.60
52 Week LowUS$3.24
Beta0
1 Month Change-6.99%
3 Month Change-15.51%
1 Year Change-24.78%
3 Year Changen/a
5 Year Changen/a
Change since IPO-66.24%

Recent News & Updates

Aug 14

Playstudios: Massively Undervalued

Playstudios has been hit in the short term by changing behavioral trends. Playstudios retains its loyal customer base. Playstudios' valuation is due for a massive upside. Introduction In the last 6 months, PLAYSTUDIOS, Inc. (MYPS) has declined 11.3% as a result of the economy worsening and changing behavioral trends. However, the company still has very solid fundamentals and its valuation remains due for a massive upside. Company Overview Playstudios is a free-to-play casual online video game company, which before focused mainly on casino mobile games. More recently, however, they are known for having obtained exclusive rights to Tetris last November. The company makes nearly all its revenue from in-game store purchases along with advertisements. According to Straits Research, the Video Game market was worth $119 billion in 2021, with an attractive 12.3% 8-year CAGR. Rough Earnings Playstudios' Q2 earnings were not pretty. Revenue was $68.4 million, a decline of 3.4% YoY and missing expectations by $3.25 million. The company expects its 2022 revenue to be in the range of $270 to $285 million, which would mean between a 7% to a 1.3% decline compared to 2021. However, this is to be expected. Gaming activity as a whole has slowed down, and it's hard to beat the records that were set in atypical market conditions. However, they did report EPS of $0.04, which beat expectations by $0.05 Sound Fundamentals With Playstudios' revenue stemming from in-game purchases, seeing high daily and monthly active users is vital to understanding the health of the company. Although gaming at large has seen a decline, management reported that in Q2 2022, DAU saw an increase of 17.2% YoY and MAU saw an increase of 54.4% YoY. Playstudios can likely base its success in such a tumultuous time on its loyal player base. Its enduring franchises will secure the confidence of investors even in a depressive economy. With user activity numbers, it becomes clear that Playstudios saw its revenue decline because of reduced amounts of consumer discretionary spending (vs players disliking their games). This means that Playstudios revenue could quickly pick up again as the economy recovers. In addition, investors might be overly bearish on the growth prospects of Playstudios by comparing it to other triple-A publishers. Playstudios' catalog largely contains casual games, which a lot of the time are played in the outside world (on subways, waiting in lines, etc.) Therefore, any headwinds to its business will be less felt compared to the rest of the gaming industry. Valuation As a gaming company with plenty of growth ahead, a 1.76 P/S ratio by itself is incredibly low. However, I'll still be using it in my valuation model just to be conservative. Assuming Playstudios grows its revenue at an 8-year CAGR of 12.3% (along with the rest of the market) that puts its revenue at $717.8 million in 8 years. Applying its current 1.76x P/S ratio, which gives us a market cap of $1.263 billion. Discounting this figure back to today (with a discount rate of 10.5%) gives us a price target of $5.04, still a 21.1% upside despite using such a conservative P/S ratio. Not to mention, its valuation remains a perfect take-over candidate. Yahoo Finance My price target is closely supported by other analysts tracked by Yahoo Finance. With a range between $4 and $7, and an average of $5.84 (a 40.3% upside). Insider Buying The CEO of Playstudios, Andrew Pascal, bought the stock three times in June of 2022 totaling over 30,000 shares. Even when the stock fell from $6.3 to $4.56, the CEO continued buying, showing his conviction.

Shareholder Returns

MYPSUS EntertainmentUS Market
7D-1.4%-8.1%-5.8%
1Y-24.8%-51.1%-22.1%

Return vs Industry: MYPS exceeded the US Entertainment industry which returned -52% over the past year.

Return vs Market: MYPS underperformed the US Market which returned -23.7% over the past year.

Price Volatility

Is MYPS's price volatile compared to industry and market?
MYPS volatility
MYPS Average Weekly Movement8.6%
Entertainment Industry Average Movement9.0%
Market Average Movement6.9%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.8%

Stable Share Price: MYPS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: MYPS's weekly volatility (9%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a504Andrew Pascalhttps://playstudios.com

PLAYSTUDIOS, Inc. develops and publishes free-to-play casual games for mobile and social platforms in the United States, North America, and internationally. The company is headquartered in Las Vegas, Nevada.

PLAYSTUDIOS Fundamentals Summary

How do PLAYSTUDIOS's earnings and revenue compare to its market cap?
MYPS fundamental statistics
Market CapUS$445.64m
Earnings (TTM)-US$7.85m
Revenue (TTM)US$281.30m

1.6x

P/S Ratio

-56.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MYPS income statement (TTM)
RevenueUS$281.30m
Cost of RevenueUS$86.08m
Gross ProfitUS$195.23m
Other ExpensesUS$203.08m
Earnings-US$7.85m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.061
Gross Margin69.40%
Net Profit Margin-2.79%
Debt/Equity Ratio0.0%

How did MYPS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is MYPS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MYPS?

Other financial metrics that can be useful for relative valuation.

MYPS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.8x
Enterprise Value/EBITDA58.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does MYPS's PS Ratio compare to its peers?

MYPS PS Ratio vs Peers
The above table shows the PS ratio for MYPS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average0.8x
DDI DoubleDown Interactive
1.2x1.0%US$420.7m
SKLZ Skillz
1.2x5.8%US$452.7m
DOYU DouYu International Holdings
0.3x-0.9%US$346.1m
HUYA HUYA
0.4x3.6%US$612.4m
MYPS PLAYSTUDIOS
1.6x9.5%US$445.6m

Price-To-Sales vs Peers: MYPS is expensive based on its Price-To-Sales Ratio (1.6x) compared to the peer average (0.8x).


Price to Earnings Ratio vs Industry

How does MYPS's PE Ratio compare vs other companies in the US Entertainment Industry?

Price-To-Sales vs Industry: MYPS is expensive based on its Price-To-Sales Ratio (1.6x) compared to the US Entertainment industry average (1.4x)


Price to Sales Ratio vs Fair Ratio

What is MYPS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MYPS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.6x
Fair PS Ratio1.7x

Price-To-Sales vs Fair Ratio: MYPS is good value based on its Price-To-Sales Ratio (1.6x) compared to the estimated Fair Price-To-Sales Ratio (1.7x).


Share Price vs Fair Value

What is the Fair Price of MYPS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MYPS ($3.46) is trading below our estimate of fair value ($9.94)

Significantly Below Fair Value: MYPS is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is PLAYSTUDIOS forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


59.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MYPS is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MYPS is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MYPS is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MYPS's revenue (9.5% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: MYPS's revenue (9.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MYPS's Return on Equity is forecast to be low in 3 years time (4.4%).


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Past Performance

How has PLAYSTUDIOS performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-52.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MYPS is currently unprofitable.

Growing Profit Margin: MYPS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MYPS is unprofitable, and losses have increased over the past 5 years at a rate of 52.5% per year.

Accelerating Growth: Unable to compare MYPS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MYPS is unprofitable, making it difficult to compare its past year earnings growth to the Entertainment industry (-12.2%).


Return on Equity

High ROE: MYPS has a negative Return on Equity (-2.66%), as it is currently unprofitable.


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Financial Health

How is PLAYSTUDIOS's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MYPS's short term assets ($244.0M) exceed its short term liabilities ($34.8M).

Long Term Liabilities: MYPS's short term assets ($244.0M) exceed its long term liabilities ($2.3M).


Debt to Equity History and Analysis

Debt Level: MYPS is debt free.

Reducing Debt: MYPS had no debt 5 years ago.

Debt Coverage: MYPS has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MYPS has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is PLAYSTUDIOS current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

PLAYSTUDIOS Dividend Yield vs Market
How does PLAYSTUDIOS dividend yield compare to the market?
SegmentDividend Yield
Company (PLAYSTUDIOS)n/a
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Entertainment)0.9%
Analyst forecast in 3 Years (PLAYSTUDIOS)0%

Notable Dividend: Unable to evaluate MYPS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MYPS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MYPS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MYPS's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MYPS has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

11.7yrs

Average management tenure


CEO

Andrew Pascal (56 yo)

11.67yrs

Tenure

US$2,000,000

Compensation

Mr. Andrew S. Pascal serves as Advisor at Acies Acquisition Corp. since October 22, 2020. He co-founded Acies Acquisition Corp. in August 2020. He is a Co-Founder, Chairman and Chief Executive Officer of P...


CEO Compensation Analysis

Andrew Pascal's Compensation vs PLAYSTUDIOS Earnings
How has Andrew Pascal's remuneration changed compared to PLAYSTUDIOS's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-US$8m

Mar 31 2022n/an/a

-US$20m

Dec 31 2021US$2mUS$500k

US$11m

Sep 30 2021n/an/a

-US$645k

Jun 30 2021n/an/a

-US$7m

Mar 31 2021n/an/a

US$13m

Dec 31 2020US$730kUS$500k

US$13m

Compensation vs Market: Andrew's total compensation ($USD2.00M) is below average for companies of similar size in the US market ($USD2.92M).

Compensation vs Earnings: Andrew's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: MYPS's management team is seasoned and experienced (11.7 years average tenure).


Board Members

Experienced Board: MYPS's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGM:MYPS Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
08 Feb 22BuyUS$122,602Andrew PascalIndividual25,700US$4.77
02 Feb 22BuyUS$122,739Andrew PascalIndividual28,400US$4.32
24 Jan 22BuyUS$122,629Andrew PascalIndividual32,500US$3.77
20 Jan 22BuyUS$122,881Andrew PascalIndividual26,000US$4.73
17 Nov 21BuyUS$232,162James MurrenIndividual50,000US$4.78

Ownership Breakdown

What is the ownership structure of MYPS?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders18,991,01514.7%
Public Companies29,324,52222.8%
Institutions37,044,83428.8%
General Public43,436,98733.7%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.4%.


Top Shareholders

Top 25 shareholders own 63.45% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
13.09%
Andrew Pascal
16,864,069$58.3m1.98%no data
12.93%
MGM Resorts International
16,647,124$57.6m0%no data
9.84%
Activision Blizzard, Inc.
12,677,398$43.9m0%no data
3.72%
Icon Management Associates LLC
4,794,359$16.6m0%100%
3.49%
Capital Research and Management Company
4,500,000$15.6m0%no data
3.29%
BlackRock, Inc.
4,233,862$14.6m1045.63%no data
3.01%
The Vanguard Group, Inc.
3,878,445$13.4m11.77%no data
2.64%
DCM Ventures Inc.
3,400,018$11.8m0%0.57%
1.52%
Rubric Capital Management LP
1,961,184$6.8m0%0.38%
1.32%
ClearBridge Investments, LLC
1,696,845$5.9m12.07%0.01%
1.26%
Chevy Chase Trust Company
1,621,702$5.6m0%0.02%
1.09%
Geode Capital Management, LLC
1,402,324$4.9m93.63%no data
1.08%
State Street Global Advisors, Inc.
1,395,250$4.8m425.6%no data
0.84%
Columbia Management Investment Advisers, LLC
1,081,928$3.7m-13%no data
0.78%
James Murren
1,009,419$3.5m0%no data
0.54%
Northern Trust Global Investments
692,009$2.4m409.53%no data
0.53%
Glynn Capital Management
680,410$2.4m1900.03%0.52%
0.45%
Fuller & Thaler Asset Management, Inc.
583,164$2.0m0.02%0.01%
0.44%
Judy Mencher
567,099$2.0m0%no data
0.35%
Scott Peterson
450,428$1.6m49.93%no data
0.25%
Hudson Bay Capital Management LP
326,000$1.1m0%0.01%
0.25%
FMR LLC
324,656$1.1m-18.71%no data
0.25%
Susquehanna International Group, LLP, Asset Management Arm
321,500$1.1m-34.7%no data
0.24%
Merrill Lynch & Co. Inc., Banking Investments
312,667$1.1m0%no data
0.23%
Hudson River Trading LLC, Asset Management Arm
299,292$1.0m0%0.01%

Company Information

PLAYSTUDIOS, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: PLAYSTUDIOS, Inc.
  • Ticker: MYPS
  • Exchange: NasdaqGM
  • Founded: NaN
  • Industry: Interactive Home Entertainment
  • Sector: Media
  • Implied Market Cap: US$445.639m
  • Shares outstanding: 128.80m
  • Website: https://playstudios.com

Number of Employees


Location

  • PLAYSTUDIOS, Inc.
  • 10150 Covington Cross Drive
  • Las Vegas
  • Nevada
  • 89144
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
7000DB (Deutsche Boerse AG)YesClass A Ordinary SharesDEEURDec 2020
MYPSNasdaqGM (Nasdaq Global Market)YesClass A Ordinary SharesUSUSDDec 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/27 00:00
End of Day Share Price2022/09/27 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.