Planet Payment’s (NASDAQ:PLPM) “Hold” Rating Reaffirmed at Northland Securities

Planet Payment (NASDAQ:PLPM)‘s stock had its “hold” rating restated by analysts at Northland Securities in a research note issued to investors on Thursday, December 21st.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, October 31st. Craig Hallum cut Planet Payment from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Lake Street Capital cut Planet Payment from a “buy” rating to a “hold” rating and reduced their target price for the company from $5.00 to $4.50 in a report on Friday, October 27th. Finally, Barrington Research cut Planet Payment from an “outperform” rating to an “underperform” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $4.67.

Shares of Planet Payment (NASDAQ:PLPM) opened at $4.49 on Thursday. Planet Payment has a twelve month low of $3.10 and a twelve month high of $4.50. The company has a market capitalization of $224.00, a P/E ratio of 9.16 and a beta of 0.61.

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Planet Payment by 40.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 48,458 shares of the credit services provider’s stock worth $193,000 after buying an additional 14,066 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Planet Payment by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 960,445 shares of the credit services provider’s stock worth $3,823,000 after purchasing an additional 52,766 shares in the last quarter. White Pine Capital LLC lifted its holdings in shares of Planet Payment by 8.5% in the 2nd quarter. White Pine Capital LLC now owns 479,225 shares of the credit services provider’s stock worth $1,581,000 after purchasing an additional 37,625 shares in the last quarter. Discovery Group I LLC lifted its holdings in shares of Planet Payment by 28.7% in the 3rd 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 in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Planet Payment by 191.2% in the 3rd quarter. Algert Global LLC now owns 160,100 shares of the credit services provider’s stock worth $687,000 after purchasing an additional 105,126 shares in the last quarter. Hedge funds and other institutional investors own 52.97% of the company’s stock.

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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.

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