Planet Payment Inc. (NASDAQ:PLPM) rose 2.8% during mid-day trading on Friday . The company traded as high as $4.79 and last traded at $4.77, with a volume of 237,277 shares. The stock had previously closed at $4.64.

PLPM has been the topic of a number of analyst reports. Lake Street Capital upped their price objective on Planet Payment from $4.25 to $4.50 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Zacks Investment Research raised Planet Payment from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a report on Wednesday, May 4th. Ladenburg Thalmann started coverage on Planet Payment in a report on Monday, July 11th. They set a “buy” rating and a $6.20 target price on the stock. Finally, Northland Securities started coverage on Planet Payment in a report on Wednesday, April 13th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Planet Payment presently has a consensus rating of “Buy” and an average target price of $5.15.

The firm has a 50-day moving average price of $4.21 and a 200-day moving average price of $3.62. The firm has a market cap of $240.65 million and a price-to-earnings ratio of 27.72.

Planet Payment (NASDAQ:PLPM) last released its earnings results on Thursday, May 5th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. On average, equities research analysts anticipate that Planet Payment Inc. will post $0.16 earnings per share for the current fiscal year.

In other Planet Payment news, Director Jonathan Kaiden sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $4.50, for a total value of $33,750.00. Following the completion of the sale, the director now owns 97,510 shares of the company’s stock, valued at $438,795. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

A hedge fund recently raised its stake in Planet Payment stock. P.A.W. Capital Corp boosted its position in shares of Planet Payment Inc. (NASDAQ:PLPM) by 43.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 575,000 shares of the company’s stock after buying an additional 175,000 shares during the period. Planet Payment accounts for 2.0% of P.A.W. Capital Corp’s portfolio, making the stock its 18th largest position. P.A.W. Capital Corp owned about 1.12% of Planet Payment worth $1,754,000 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 manages its business through two segments: Multi-currency processing services, which includes Pay In Your Currency and Shop In Your Currency, enables merchants to offer customized pricing in multiple currencies, and payment processing services comprising authorization, capture, clearing and settlement services.

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