Analysts expect Planet Payment, Inc. (NASDAQ:PLPM) to post sales of $14.97 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Planet Payment’s earnings, with the lowest sales estimate coming in at $14.46 million and the highest estimate coming in at $15.94 million. Planet Payment reported sales of $13.62 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The business is scheduled to announce its next earnings report on Wednesday, November 29th.

According to Zacks, analysts expect that Planet Payment will report full year sales of $14.97 million for the current year, with estimates ranging from $57.01 million to $57.90 million. For the next financial year, analysts anticipate that the company will post sales of $63.32 million per share, with estimates ranging from $61.00 million to $64.67 million. Zacks’ sales averages are an average based on a survey of research analysts that cover Planet Payment.

A number of brokerages recently commented on PLPM. Zacks Investment Research cut Planet Payment from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Lake Street Capital cut 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 research report on Friday, October 27th. Barrington Research cut Planet Payment from an “outperform” rating to an “underperform” rating in a research report on Friday, October 27th. Northland Securities restated a “buy” rating and issued a $4.50 price target on shares of Planet Payment in a research report on Thursday, October 12th. Finally, Craig Hallum cut Planet Payment from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.67.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Discovery Group I LLC increased its position in shares of Planet Payment by 28.7% in the third quarter. Discovery Group I LLC now owns 4,770,577 shares of the credit services provider’s stock worth $20,466,000 after purchasing an additional 1,063,590 shares during the period. Vanguard Group Inc. grew its position in Planet Payment by 0.8% in the second quarter. Vanguard Group Inc. now owns 1,456,983 shares of the credit services provider’s stock valued at $4,808,000 after acquiring an additional 11,432 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Planet Payment by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,198,893 shares of the credit services provider’s stock valued at $5,143,000 after acquiring an additional 70,407 shares during the last quarter. Renaissance Technologies LLC grew its position in Planet Payment by 4.1% in the first quarter. Renaissance Technologies LLC now owns 834,400 shares of the credit services provider’s stock valued at $3,321,000 after acquiring an additional 32,800 shares during the last quarter. Finally, P.A.W. Capital Corp grew its position in Planet Payment by 4.8% in 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. Institutional investors own 50.55% of the company’s stock.

Shares of Planet Payment (NASDAQ PLPM) remained flat at $$4.49 during midday trading on Tuesday. The company’s stock had a trading volume of 99,000 shares, compared to its average volume of 330,102. Planet Payment has a one year low of $3.10 and a one year high of $4.50. The company has a market cap of $224.55, a P/E ratio of 26.41 and a beta of 0.63.

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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.

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Earnings History and Estimates for Planet Payment (NASDAQ:PLPM)

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