Planet Payment, Inc. (NASDAQ:PLPM) was downgraded by stock analysts at Barrington Research from an “outperform” rating to an “underperform” rating in a report issued on Friday, Marketbeat.com reports.

A number of other analysts have also commented on PLPM. Northland Securities reaffirmed a “buy” rating and set a $4.50 price objective on shares of Planet Payment in a research note on Thursday, October 12th. Lake Street Capital lowered Planet Payment from a “buy” rating to a “hold” rating and decreased their price objective for the company from $5.00 to $4.50 in a research note on Friday. Finally, Zacks Investment Research raised Planet Payment from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $4.50.

Planet Payment (NASDAQ PLPM) traded up 17.02% on Friday, hitting $4.47. The stock had a trading volume of 23,845,113 shares. Planet Payment has a one year low of $2.75 and a one year high of $4.64. The stock’s 50 day moving average is $4.19 and its 200 day moving average is $3.79. The stock has a market cap of $220.09 million, a price-to-earnings ratio of 9.85 and a beta of 0.62.

Planet Payment (NASDAQ:PLPM) last posted its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 25.86% and a net margin of 48.14%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts anticipate that Planet Payment will post $0.17 earnings per share for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of the stock. P.A.W. Capital Corp boosted its stake in shares of Planet Payment by 4.8% during the third quarter. P.A.W. Capital Corp now owns 650,000 shares of the credit services provider’s stock valued at $2,789,000 after acquiring an additional 30,000 shares during the last quarter. Fondren Management LP acquired a new stake in shares of Planet Payment during the second quarter valued at $512,000. State Street Corp boosted its stake in shares of Planet Payment by 6.8% during the second quarter. State Street Corp now owns 608,623 shares of the credit services provider’s stock valued at $2,008,000 after acquiring an additional 38,809 shares during the last quarter. Numeric Investors LLC boosted its stake in shares of Planet Payment by 8.5% during the second quarter. Numeric Investors LLC now owns 197,434 shares of the credit services provider’s stock valued at $652,000 after acquiring an additional 15,404 shares during the last quarter. Finally, OxFORD Asset Management LLP boosted its stake in shares of Planet Payment by 21.8% during the second quarter. OxFORD Asset Management LLP now owns 287,582 shares of the credit services provider’s stock valued at $949,000 after acquiring an additional 51,397 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

Planet Payment Company Profile

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.

Analyst Recommendations for Planet Payment (NASDAQ:PLPM)

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