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.
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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.
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