Brokerages expect Planet Payment Inc (NASDAQ:PLPM) to report $13.57 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Planet Payment’s earnings, with estimates ranging from $13.51 million to $13.62 million. Planet Payment posted sales of $13.69 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, May 9th.
According to Zacks, analysts expect that Planet Payment will report full year sales of $13.57 million for the current year, with estimates ranging from $60.07 million to $60.47 million. For the next fiscal year, analysts forecast that the business will report sales of $67.64 million per share, with estimates ranging from $67.52 million to $67.76 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Planet Payment.
Several equities analysts have weighed in on the company. Feltl & Co. restated a “buy” rating on shares of Planet Payment in a report on Thursday, January 12th. Zacks Investment Research upgraded Planet Payment from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a report on Saturday, March 11th.
Planet Payment (NASDAQ:PLPM) traded down 0.71% during trading on Wednesday, hitting $4.18. The stock had a trading volume of 106,108 shares. The firm’s 50-day moving average price is $4.04 and its 200-day moving average price is $4.03. Planet Payment has a 1-year low of $2.75 and a 1-year high of $4.97. The stock has a market cap of $203.50 million, a PE ratio of 9.50 and a beta of 0.70.
Institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC raised its position in Planet Payment by 36.6% in the first quarter. Acrospire Investment Management LLC now owns 25,128 shares of the credit services provider’s stock valued at $100,000 after buying an additional 6,733 shares during the period. Two Sigma Securities LLC bought a new position in Planet Payment during the third quarter valued at $101,000. Springbank Value Partners LP raised its position in Planet Payment by 511.1% in the third quarter. Springbank Value Partners LP now owns 27,500 shares of the credit services provider’s stock valued at $102,000 after buying an additional 23,000 shares during the period. Brown Advisory Inc. raised its position in Planet Payment by 61.8% in the fourth quarter. Brown Advisory Inc. now owns 27,500 shares of the credit services provider’s stock valued at $112,000 after buying an additional 10,500 shares during the period. Finally, Legato Capital Management LLC raised its position in Planet Payment by 298.0% in the first quarter. Legato Capital Management LLC now owns 30,642 shares of the credit services provider’s stock valued at $7,699,000 after buying an additional 22,943 shares during the period. Institutional investors own 51.47% of the company’s stock.
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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