Brokerages Set Planet Payment, Inc. (PLPM) Target Price at $4.50

Planet Payment, Inc. (NASDAQ:PLPM) has received a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.50.

Several equities research analysts have recently weighed in on the stock. Northland Securities downgraded shares of Planet Payment to a “hold” rating and set a $4.50 target price for the company. in a research note on Sunday. Craig Hallum downgraded shares of Planet Payment from a “buy” rating to a “hold” rating in a research note on Friday. Barrington Research downgraded shares of Planet Payment from an “outperform” rating to an “underperform” rating in a research note on Friday. Lake Street Capital downgraded shares of Planet Payment from a “buy” rating to a “hold” rating and decreased their target price for the stock from $5.00 to $4.50 in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Planet Payment from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th.

ILLEGAL ACTIVITY NOTICE: “Brokerages Set Planet Payment, Inc. (PLPM) Target Price at $4.50” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.com-unik.info/2017/10/30/brokerages-set-planet-payment-inc-plpm-target-price-at-4-50.html.

Planet Payment (NASDAQ:PLPM) remained flat at $4.47 during trading on Friday. 800,750 shares of the stock traded hands. The firm has a market cap of $220.09 million, a price-to-earnings ratio of 9.85 and a beta of 0.62. The firm’s 50 day moving average is $4.19 and its 200-day moving average is $3.79. Planet Payment has a 1-year low of $2.75 and a 1-year high of $4.64.

Planet Payment (NASDAQ:PLPM) last announced its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Planet Payment had a net margin of 48.14% and a return on equity of 25.86%. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $13.56 million. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts forecast that Planet Payment will post $0.17 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PLPM. Alliancebernstein L.P. purchased a new position in Planet Payment during the second quarter worth about $102,000. Citigroup Inc. raised its holdings in Planet Payment by 3,421.0% during the second quarter. Citigroup Inc. now owns 30,879 shares of the credit services provider’s stock worth $102,000 after purchasing an additional 30,002 shares in the last quarter. American International Group Inc. raised its holdings in Planet Payment by 7.1% during the first quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,729 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in Planet Payment during the second quarter worth about $111,000. Finally, Connors Investor Services Inc. purchased a new position in Planet Payment during the second quarter worth about $132,000. 47.34% of the stock is owned by hedge funds and other institutional investors.

Planet Payment Company Profile

Planet Payment, Inc is a provider of international payment and transaction processing and multi-currency processing services. The Company operates through two segments: multi-currency processing services and payment processing services. Its multi-currency processing services segment includes Pay In Your Currency, Multi-Currency Pricing and Dynamic Currency Conversion at automated teller machines, enable merchants to offer customized pricing in multiple currencies.

Analyst Recommendations for Planet Payment (NASDAQ:PLPM)

What are top analysts saying about Planet Payment Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Planet Payment Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit