Planet Payment Stock Rating Lowered by TheStreet (PLPM)
Planet Payment (NASDAQ:PLPM) was downgraded by stock analysts at TheStreet from a “hold” rating to a “sell” rating in a report issued on Wednesday, AnalystRatings.Net reports.
The analysts wrote, “Planet Payment (PLPM) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and generally disappointing historical performance in the stock itself.”
Shares of Planet Payment (NASDAQ:PLPM) traded up 4.35% on Wednesday, hitting $2.64. 366,046 shares of the company’s stock traded hands. Planet Payment has a 1-year low of $1.97 and a 1-year high of $4.03. The stock’s 50-day moving average is $2.44 and its 200-day moving average is $2.81. The company’s market cap is $140.6 million.
Planet Payment (NASDAQ:PLPM) last released its earnings data on Tuesday, May 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. Analysts expect that Planet Payment will post $0.06 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Planet Payment from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $2.20 price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Planet Payment in a research note on Monday, March 10th.
Planet Group, Inc, also known as Planet Payment, is a United States-based company that provides currency conversion and multi-currency processing services.
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