Planet Payment, Inc. (NASDAQ:PLPM)’s share price rose 0.1% during trading on Monday . The stock traded as high as $4.48 and last traded at $4.48. Approximately 823,416 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 616,023 shares. The stock had previously closed at $4.47.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Tuesday. Northland Securities cut shares of Planet Payment to a “hold” rating and set a $4.50 price target on the stock. in a report on Sunday. Craig Hallum cut shares of Planet Payment from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Barrington Research cut shares of Planet Payment from an “outperform” rating to an “underperform” rating in a report on Friday, October 27th. Finally, Lake Street Capital cut shares of Planet Payment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $5.00 to $4.50 in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $4.67.

The firm has a 50 day moving average price of $4.22 and a 200-day moving average price of $3.80. The stock has a market capitalization of $220.09 million, a P/E ratio of 9.85 and a beta of 0.62.

Planet Payment (NASDAQ:PLPM) last released its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.56 million. Planet Payment had a net margin of 48.14% and a return on equity of 25.86%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts predict that Planet Payment, Inc. will post $0.17 EPS for the current year.

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in Planet Payment by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 48,458 shares of the credit services provider’s stock valued at $193,000 after acquiring an additional 14,066 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Planet Payment by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 960,445 shares of the credit services provider’s stock valued at $3,823,000 after buying an additional 52,766 shares during the last quarter. White Pine Capital LLC boosted its stake in shares of Planet Payment by 8.5% during the 2nd quarter. White Pine Capital LLC now owns 479,225 shares of the credit services provider’s stock valued at $1,581,000 after buying an additional 37,625 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Planet Payment by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 1,563,041 shares of the credit services provider’s stock valued at $6,221,000 after buying an additional 4,500 shares during the last quarter. Finally, SpiderRock Advisors LLC purchased a new position in shares of Planet Payment during the 2nd quarter valued at approximately $111,000. 47.34% of the stock is owned by institutional investors.

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About Planet Payment

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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