Planet Payment Inc. (PLPM) Trading Up 4.1%
Planet Payment Inc. (NASDAQ:PLPM) shares were up 4.1% on Tuesday . The company traded as high as $3.83 and last traded at $3.79, with a volume of 182,620 shares trading hands. The stock had previously closed at $3.64.
A number of research analysts have weighed in on PLPM shares. Zacks Investment Research upgraded Planet Payment from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Wednesday, May 4th. Lake Street Capital raised their price target on Planet Payment from $4.25 to $4.50 and gave the company a “buy” rating in a research note on Thursday, May 5th. Finally, Ladenburg Thalmann started coverage on Planet Payment in a research note on Monday, July 11th. They issued a “buy” rating and a $6.20 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Planet Payment currently has an average rating of “Buy” and a consensus price target of $5.15.
The stock’s 50 day moving average price is $4.09 and its 200-day moving average price is $3.86. The firm has a market capitalization of $186.01 million and a P/E ratio of 23.29.
An institutional investor recently raised its position in Planet Payment stock. Dimensional Fund Advisors LP boosted its position in Planet Payment Inc. (NASDAQ:PLPM) by 77.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,027 shares of the company’s stock after buying an additional 155,137 shares during the period. Dimensional Fund Advisors LP owned approximately 0.69% of Planet Payment worth $1,083,000 as of its most recent filing with the SEC.
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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