Planet Payment Inc. (PLPM) Stock Price Up 4.1%
Planet Payment Inc. (NASDAQ:PLPM) rose 4.1% on Tuesday . The stock traded as high as $3.83 and last traded at $3.79, with a volume of 182,620 shares. The stock had previously closed at $3.64.
PLPM has been the topic of several recent research reports. Lake Street Capital upped their price target on Planet Payment from $4.25 to $4.50 and gave the stock a “buy” rating in a report on Thursday, May 5th. Zacks Investment Research upgraded Planet Payment from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Wednesday, May 4th. Finally, Ladenburg Thalmann initiated coverage on Planet Payment in a report on Monday, July 11th. They set a “buy” rating and a $6.20 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Planet Payment presently has a consensus rating of “Buy” and a consensus target price of $5.15.
The firm has a market cap of $178.07 million and a price-to-earnings ratio of 22.30. The company’s 50-day moving average price is $4.07 and its 200-day moving average price is $3.86.
An institutional investor recently raised its position in Planet Payment stock. Dimensional Fund Advisors LP boosted its position in shares of Planet Payment Inc. (NASDAQ:PLPM) by 77.6% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 0.69% of Planet Payment worth $1,083,000 as of its most recent SEC filing.
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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