Planet Payment, Inc. (PLPM) Expected to Post Quarterly Sales of $14.97 Million
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.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Planet Payment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Payment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.