Planet Payment Inc. (NASDAQ:PLPM)’s share price dropped 14.3% during mid-day trading on Thursday . The company traded as low as $3.50 and last traded at $3.94, with a volume of 1,216,092 shares trading hands. The stock had previously closed at $4.60.

Several equities analysts recently issued reports on the stock. Lake Street Capital boosted their price target on shares of Planet Payment from $4.25 to $4.50 and gave the company a “buy” rating in a research report on Thursday, May 5th. Zacks Investment Research upgraded shares of Planet Payment from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research report on Wednesday, May 4th. Ladenburg Thalmann assumed coverage on shares of Planet Payment in a research report on Monday, July 11th. They set a “buy” rating and a $6.20 price target on the stock. Finally, Northland Securities assumed coverage on shares of Planet Payment in a research report on Wednesday, April 13th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Planet Payment presently has an average rating of “Buy” and a consensus target price of $5.15.

The firm has a market cap of $193.95 million and a price-to-earnings ratio of 22.34. The firm has a 50 day moving average price of $4.33 and a 200 day moving average price of $3.73.

Planet Payment (NASDAQ:PLPM) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. On average, equities analysts expect that Planet Payment Inc. will post $0.16 EPS for the current year.

In other Planet Payment news, Director Jonathan Kaiden sold 15,880 shares of the stock in a transaction on Friday, May 20th. The shares were sold at an average price of $4.51, for a total transaction of $71,618.80. Following the completion of the transaction, the director now owns 105,010 shares in the company, valued at $473,595.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

A hedge fund recently raised its stake in Planet Payment stock. P.A.W. Capital Corp raised its stake in shares of Planet Payment Inc. (NASDAQ:PLPM) by 43.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 investment portfolio, making the stock its 18th largest position. P.A.W. Capital Corp owned 1.12% of Planet Payment worth $1,754,000 at the end of the most recent reporting period.

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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