Paltalk (NASDAQ:PALT) Price Target Cut to $4.50

Paltalk (NASDAQ:PALT) had its price objective decreased by stock analysts at Maxim Group from $5.00 to $4.50 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price target would indicate a potential upside of 38.46% from the stock’s current price.

Paltalk Trading Up 0.3 %

Shares of PALT stock traded up $0.01 during trading hours on Friday, hitting $3.25. The company’s stock had a trading volume of 4,380 shares, compared to its average volume of 113,327. The company has a 50 day moving average of $3.69 and a 200 day moving average of $3.11. The stock has a market cap of $29.97 million, a PE ratio of -26.67 and a beta of 0.76. Paltalk has a 12-month low of $1.53 and a 12-month high of $5.19.

Paltalk (NASDAQ:PALT) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.03) EPS for the quarter. Paltalk had a negative net margin of 9.72% and a negative return on equity of 5.25%. The business had revenue of $2.69 million during the quarter.

Insider Activity at Paltalk

In other Paltalk news, major shareholder J. Crew Delaware Trust B sold 12,697 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $4.97, for a total transaction of $63,104.09. Following the completion of the transaction, the insider now directly owns 1,477,423 shares in the company, valued at $7,342,792.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 19,049 shares of company stock worth $94,631 in the last three months. Company insiders own 15.50% of the company’s stock.

Paltalk Company Profile

Paltalk, Inc, together with its subsidiaries, develops communications software and multimedia social applications worldwide. It offers consumer applications, which include Paltalk, Camfrog, and Tinychat for live video chat; and owns and operates Vumber, a telecommunications services provider that enables users to have multiple phone numbers in any area code through which calls can be forwarded to a user's existing cell phone or land line telephone number.