Playstudios upgraded at Benchmark with ‘growth accelerants’ ahead

As previously reported, Benchmark upgraded Playstudios (MYPS) to Speculative Buy from Hold with a $2 price target after the company’s results “demonstrated operating resilience and strategic focus despite topline pressure” in Q1. While revenue came in modestly below expectations, Playstudios continues to benefit from early traction in direct-to-consumer monetization and disciplined cost execution, says the analyst. The full-year outlook remains intact, excluding contributions from “two potential growth accelerants,” namely sweepstakes and Tetris Block Party, the analyst added.