Paltalk (NASDAQ:PALT) Price Target Cut to $4.50

Paltalk (NASDAQ:PALT) had its price target decreased by research analysts at Maxim Group from $5.00 to $4.50 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price objective suggests a potential upside of 38.46% from the stock’s current price.

Paltalk Stock Up 0.3 %

Shares of NASDAQ PALT traded up $0.01 during midday trading on Friday, hitting $3.25. The stock had a trading volume of 4,380 shares, compared to its average volume of 113,327. The company has a market capitalization of $29.97 million, a PE ratio of -26.67 and a beta of 0.76. The stock has a 50 day simple moving average of $3.69 and a 200-day simple moving average of $3.11. Paltalk has a 1 year low of $1.53 and a 1 year high of $5.19.

Paltalk (NASDAQ:PALT) last released its earnings results on Friday, March 15th. The company reported ($0.03) earnings per share for the quarter. Paltalk had a negative net margin of 9.72% and a negative return on equity of 5.25%. The firm had revenue of $2.69 million during the quarter.

Insider Buying and Selling

In related news, major shareholder J. Crew Delaware Trust B sold 12,697 shares of Paltalk stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $4.97, for a total transaction of $63,104.09. Following the transaction, the insider now owns 1,477,423 shares in the company, valued at $7,342,792.31. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 19,049 shares of company stock worth $94,631. 15.50% of the stock is owned by corporate insiders.

Paltalk Company Profile

Paltalk, Inc, together with its subsidiaries, develops communications software and multimedia social applications worldwide. It offers consumer applications, which include Paltalk, Camfrog, and Tinychat for live video chat; and owns and operates Vumber, a telecommunications services provider that enables users to have multiple phone numbers in any area code through which calls can be forwarded to a user's existing cell phone or land line telephone number.