People Incorporated Common Stock (NASDAQ:PPLI) Price Target Cut to $60.00 by Analysts at TD Cowen

People Incorporated Common Stock (NASDAQ:PPLI) had its target price lowered by TD Cowen from $70.00 to $60.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen‘s price objective indicates a potential upside of 46.74% from the stock’s previous close.

PPLI has been the subject of several other research reports. Zacks Research downgraded People Incorporated Common Stock from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. The Goldman Sachs Group lowered their price objective on shares of People Incorporated Common Stock from $63.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday. Benchmark raised their target price on shares of People Incorporated Common Stock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of People Incorporated Common Stock from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Finally, Wall Street Zen upgraded shares of People Incorporated Common Stock from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, People Incorporated Common Stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

People Incorporated Common Stock Price Performance

Shares of PPLI stock traded up $2.39 during midday trading on Wednesday, reaching $40.89. 1,540,225 shares of the company traded hands, compared to its average volume of 1,103,834. The firm’s 50 day simple moving average is $38.79 and its two-hundred day simple moving average is $40.43. The firm has a market cap of $2.81 billion, a PE ratio of -9.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.69 and a quick ratio of 3.69. People Incorporated Common Stock has a 1-year low of $31.42 and a 1-year high of $48.32.

People Incorporated Common Stock (NASDAQ:PPLI) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($9.15) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($8.92). People Incorporated Common Stock had a negative net margin of 17.01% and a positive return on equity of 13.03%. People Incorporated Common Stock’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that People Incorporated Common Stock will post 6.97 EPS for the current fiscal year.

Institutional Trading of People Incorporated Common Stock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empyrean Capital Partners LP increased its stake in People Incorporated Common Stock by 21.1% in the first quarter. Empyrean Capital Partners LP now owns 820,000 shares of the company’s stock valued at $32,825,000 after purchasing an additional 143,000 shares during the last quarter. Amundi boosted its stake in People Incorporated Common Stock by 397.4% in the 1st quarter. Amundi now owns 152,304 shares of the company’s stock worth $6,097,000 after buying an additional 121,681 shares during the last quarter. Quantinno Capital Management LP boosted its stake in People Incorporated Common Stock by 80.0% in the 1st quarter. Quantinno Capital Management LP now owns 205,408 shares of the company’s stock worth $8,222,000 after buying an additional 91,293 shares during the last quarter. Whitebox Advisors LLC grew its holdings in People Incorporated Common Stock by 71.8% in the 1st quarter. Whitebox Advisors LLC now owns 217,383 shares of the company’s stock valued at $8,702,000 after buying an additional 90,819 shares during the period. Finally, Nilsine Partners LLC purchased a new stake in People Incorporated Common Stock in the 2nd quarter valued at about $1,492,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Key Stories Impacting People Incorporated Common Stock

Here are the key news stories impacting People Incorporated Common Stock this week:

• Positive Sentiment: Goldman Sachs, Truist, Citizens JMP and KeyCorp all maintained favorable ratings—buy, buy, market outperform and overweight, respectively. Their revised targets still imply potential upside from the roughly $41 share price. Goldman Sachs rating
• Neutral Sentiment: A news report says PPLI’s stock rose despite a deep Q3 earnings loss, suggesting the reported loss has not prevented the shares from advancing. The headline does not identify a specific reason for the move. People stock price rises despite Q3 loss
• Negative Sentiment: All four firms lowered their price targets: Goldman Sachs to $56 from $63, Truist to $59 from $62, Citizens JMP to $47 from $54, and KeyCorp to $44 from $50. The cuts signal more cautious valuation expectations, despite the firms retaining favorable ratings.
• Negative Sentiment: Third-quarter results are reported inconsistently. MarketBeat cites a $9.15-per-share loss versus expectations for a $0.23 loss and revenue down 3.6% year over year; Zacks instead reports earnings of $2.63 per share, beating estimates. The conflicting figures make the earnings signal unclear. Zacks Q3 earnings report

People Incorporated Common Stock Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle. It also operates a digital marketplace that connects home service professionals with consumers for repairing, remodeling, cleaning, landscaping, maintenance, and enhancement services under the Angi Ads, Angi Leads, and Angi Services brands.