Zacks Investment Research lowered shares of Planet Payment, Inc. (NASDAQ:PLPM) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
According to Zacks, “Planet Payment, Inc. is a provider of international payment processing and multi-currency processing services. It operates in two segments: processing solutions and merchant solutions. The company’s processing solutions include secure payment processing, multi-currency authorization and capture processing, clearing and settlement, acquirer reconciliation and reporting, POS, banking ATMs services and risk management services. Its Merchant solutions comprises of multi-currency payment solutions; online payment solutions designed for e-commerce, MICROS payment gateway, POS solutions, payments reporting, data analytics services and global merchant solutions, as well as fraud and security services. It offers its services primarily to Asia Pacific region, North America, Latin America, the Middle East, Africa, and Europe. Planet Payment, Inc. is headquartered in Long Beach, New York. “
Planet Payment (PLPM) traded up 0.23% on Tuesday, reaching $4.29. The company had a trading volume of 34,021 shares. The stock has a market capitalization of $211.23 million, a P/E ratio of 9.45 and a beta of 0.62. The firm has a 50-day moving average of $4.15 and a 200-day moving average of $3.79. Planet Payment has a 12 month low of $2.75 and a 12 month high of $4.64.
Planet Payment (NASDAQ:PLPM) last announced its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $13.56 million. Planet Payment had a return on equity of 25.86% and a net margin of 48.14%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts expect that Planet Payment will post $0.17 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. American International Group Inc. grew its stake in shares of Planet Payment by 7.1% during the first quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 1,729 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Planet Payment during the second quarter valued at about $102,000. Citigroup Inc. grew its stake in shares of Planet Payment by 3,421.0% during the second quarter. Citigroup Inc. now owns 30,879 shares of the credit services provider’s stock valued at $102,000 after acquiring an additional 30,002 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in shares of Planet Payment during the second quarter valued at about $111,000. Finally, Connors Investor Services Inc. acquired a new stake in shares of Planet Payment during the second quarter valued at about $132,000. Institutional investors own 50.64% 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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