Shares of Planet Payment Inc. (NASDAQ:PLPM) rose 2.8% during mid-day trading on Monday . The stock traded as high as $3.72 and last traded at $3.71, with a volume of 148,569 shares. The stock had previously closed at $3.61.

PLPM has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Planet Payment from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Wednesday, May 4th. Lake Street Capital raised their price objective 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. Finally, 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 objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $5.15.

The firm’s 50 day moving average is $4.14 and its 200-day moving average is $3.82. The company has a market cap of $186.01 million and a PE ratio of 23.29.

A hedge fund recently raised its stake in Planet Payment stock. Dimensional Fund Advisors LP raised its stake in shares of Planet Payment Inc. (NASDAQ:PLPM) by 77.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 about 0.69% of Planet Payment worth $1,083,000 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 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.