Planet Payment’s (PLPM) Hold Rating Reaffirmed at Northland Securities

Northland Securities reaffirmed their hold rating on shares of Planet Payment (NASDAQ:PLPM) in a research note released on Thursday.

A number of other analysts have also commented on the company. Zacks Investment Research upgraded Planet Payment from a hold rating to a buy rating and set a $5.00 price target on the stock in a report on Tuesday, October 31st. Craig Hallum lowered Planet Payment from a buy rating to a hold rating in a research note on Friday, October 27th. Barrington Research lowered Planet Payment from an outperform rating to an underperform rating in a research note on Friday, October 27th. Finally, Lake Street Capital lowered Planet Payment from a buy rating to a hold rating and lowered their target price for the company from $5.00 to $4.50 in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $4.67.

Shares of Planet Payment (NASDAQ:PLPM) remained flat at $$4.49 during trading on Thursday. The company’s stock had a trading volume of 288,500 shares, compared to its average volume of 325,013. The firm has a market capitalization of $224.55, a P/E ratio of 9.55 and a beta of 0.62. Planet Payment has a twelve month low of $3.10 and a twelve month high of $4.50.

Several institutional investors and hedge funds have recently modified their holdings of the business. TIAA CREF Investment Management LLC raised its stake in shares of Planet Payment by 0.7% in the first quarter. TIAA CREF Investment Management LLC now owns 127,567 shares of the credit services provider’s stock valued at $508,000 after buying an additional 900 shares during the period. Rhumbline Advisers raised its stake in shares of Planet Payment by 10.4% during the 2nd quarter. Rhumbline Advisers now owns 45,355 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 4,280 shares during the period. Northern Trust Corp raised its stake in shares of Planet Payment by 1.9% during the 2nd quarter. Northern Trust Corp now owns 463,164 shares of the credit services provider’s stock valued at $1,529,000 after purchasing an additional 8,762 shares during the period. Strs Ohio raised its stake in shares of Planet Payment by 6.1% during the 2nd quarter. Strs Ohio now owns 164,600 shares of the credit services provider’s stock valued at $543,000 after purchasing an additional 9,400 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Planet Payment by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 315,222 shares of the credit services provider’s stock valued at $1,254,000 after purchasing an additional 10,900 shares during the period. Hedge funds and other institutional investors own 52.97% of the company’s stock.

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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)

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