Planet Payment Inc. (PLPM) Trading Down 4.6%
Planet Payment Inc. (NASDAQ:PLPM) shares fell 4.6% during mid-day trading on Monday . The company traded as low as $3.74 and last traded at $3.75, with a volume of 188,925 shares changing hands. The stock had previously closed at $3.93.
PLPM has been the subject of a number of research analyst reports. Ladenburg Thalmann initiated coverage on shares of Planet Payment in a research note on Monday, July 11th. They issued a “buy” rating and a $6.20 price target for the company. Lake Street Capital upped their price target on shares of Planet Payment from $4.25 to $4.50 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Finally, Zacks Investment Research lowered shares of Planet Payment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Planet Payment has a consensus rating of “Buy” and a consensus price target of $5.15.
The firm has a market capitalization of $186.50 million and a price-to-earnings ratio of 23.35. The company’s 50 day moving average is $4.08 and its 200-day moving average is $3.86.
An institutional investor recently raised its position in Planet Payment stock. Dimensional Fund Advisors LP raised its position in Planet Payment Inc. (NASDAQ:PLPM) by 77.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,027 shares of the company’s stock after buying an additional 155,137 shares during the period. Dimensional Fund Advisors LP owned 0.69% of Planet Payment worth $1,083,000 at the end of the most recent quarter.
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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