Planet Payment Trading Up 11% After Strong Earnings (PLPM)
Planet Payment (NASDAQ:PLPM) was up 11% during mid-day trading on Tuesday following a stronger than expected earnings report, Analyst RN reports. The company traded as high as $2.46 and last traded at $2.43, with a volume of 199,608 shares. The stock had previously closed at $2.19.
The company reported $0.02 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.03. The company had revenue of $11.90 million for the quarter, compared to the consensus estimate of $11.00 million. During the same quarter last year, the company posted $0.01 earnings per share.
A number of research firms have recently commented on PLPM. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Planet Payment in a research note on Monday, June 23rd. Separately, analysts at TheStreet upgraded shares of Planet Payment from a “sell” rating to a “hold” rating in a research note on Wednesday, June 18th. Finally, analysts at TheStreet downgraded shares of Planet Payment from a “hold” rating to a “sell” rating in a research note on Wednesday, May 14th.
The stock’s 50-day moving average is $2.55 and its 200-day moving average is $2.80. The company’s market cap is $128.2 million.
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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