Planet Payment Inc (NASDAQ:PLPM) has been given an average recommendation of “Hold” by the six research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $4.75.

PLPM has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Tuesday, October 31st. Lake Street Capital lowered shares of Planet Payment from a “buy” rating to a “hold” rating and reduced their price target for the stock from $5.00 to $4.50 in a research report on Friday, October 27th. Craig Hallum lowered shares of Planet Payment from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Northland Securities reiterated a “buy” rating and set a $4.50 price target on shares of Planet Payment in a research report on Thursday, October 12th. Finally, Barrington Research lowered shares of Planet Payment from an “outperform” rating to an “underperform” rating in a research report on Friday, October 27th.

Institutional investors have recently modified their holdings of the business. Discovery Group I LLC boosted its position in 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 valued at $20,466,000 after buying an additional 1,063,590 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Planet Payment by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,128,486 shares of the credit services provider’s stock valued at $3,724,000 after buying an additional 168,041 shares in the last quarter. Algert Global LLC boosted its position in Planet Payment by 191.2% in the third quarter. Algert Global LLC now owns 160,100 shares of the credit services provider’s stock valued at $687,000 after buying an additional 105,126 shares in the last quarter. P.A.W. Capital Corp boosted 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 buying an additional 30,000 shares in the last quarter. Finally, Fondren Management LP acquired a new stake in Planet Payment in the second quarter valued at approximately $512,000. Hedge funds and other institutional investors own 52.97% of the company’s stock.

Shares of Planet Payment (NASDAQ:PLPM) opened at $4.49 on Wednesday. The stock has a market cap of $224.00, a P/E ratio of 9.16 and a beta of 0.61. Planet Payment has a 52-week low of $3.10 and a 52-week high of $4.50.

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About Planet Payment

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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