Planet Payment, Inc. (NASDAQ:PLPM) has been assigned an average broker rating score of 1.00 (Strong Buy) from the five brokers that provide coverage for the stock, Zacks Investment Research reports. Five analysts have rated the stock with a strong buy rating.

Analysts have set a one year consensus price target of $5.34 for the company and are expecting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also given Planet Payment an industry rank of 154 out of 265 based on the ratings given to related companies.

Planet Payment (NASDAQ:PLPM) traded down 0.23% during midday trading on Friday, reaching $4.37. 103,036 shares of the company’s stock traded hands. Planet Payment has a 52 week low of $2.19 and a 52 week high of $4.97. The stock has a market capitalization of $214.91 million, a price-to-earnings ratio of 21.63 and a beta of 0.69. The company’s 50-day moving average price is $4.16 and its 200 day moving average price is $3.90.

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Several hedge funds and other institutional investors have recently made changes to their positions in PLPM. Two Sigma Securities LLC purchased a new position in shares of Planet Payment during the third quarter valued at approximately $101,000. Springbank Value Partners LP boosted its position in shares of Planet Payment by 511.1% in the third quarter. Springbank Value Partners LP now owns 27,500 shares of the company’s stock valued at $102,000 after buying an additional 23,000 shares during the last quarter. American International Group Inc. purchased a new position in shares of Planet Payment during the second quarter valued at approximately $109,000. Cubist Systematic Strategies LLC purchased a new position in shares of Planet Payment during the second quarter valued at approximately $114,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Planet Payment during the third quarter valued at approximately $119,000. Institutional investors own 51.19% 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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