Citigroup Has Lowered Expectations for People Incorporated Common Stock (NASDAQ:PPLI) Stock Price

Key Points

• Citigroup cut its price target on PPLI from $52 to $47 but maintained a “buy” rating; the new target implies 13.47% upside from the prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $53.92, based on nine Buy, five Hold, and one Sell rating.
• PPLI shares rose 7.6% to $41.42 on Wednesday. The article says quarterly results missed estimates, with a reported loss of $9.15 per share versus an expected loss of $0.23 and revenue down 3.6% year over year.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) had its price target dropped by stock analysts at Citigroup from $52.00 to $47.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 13.47% from the company's previous close.

Other equities analysts also recently issued reports about the stock. UBS Group boosted their target price on shares of People Incorporated Common Stock from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of People Incorporated Common Stock from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. KeyCorp lowered their price objective on shares of People Incorporated Common Stock from $50.00 to $44.00 and set an "overweight" rating on the stock in a research note on Wednesday. Weiss Ratings downgraded shares of People Incorporated Common Stock from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 23rd. Finally, Zacks Research cut People Incorporated Common Stock from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.92.

People Incorporated Common Stock Stock Up 7.6%

NASDAQ:PPLI traded up $2.92 on Wednesday, hitting $41.42. 2,044,932 shares of the company's stock were exchanged, compared to its average volume of 1,105,361. The firm has a 50-day moving average price of $38.79 and a 200-day moving average price of $40.43. People Incorporated Common Stock has a 52 week low of $31.42 and a 52 week high of $48.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.69 and a quick ratio of 3.69. The company has a market cap of $2.84 billion, a P/E ratio of -9.41 and a beta of 1.00.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) last released its earnings results on Tuesday, November 10th. The company reported ($9.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($8.92). People Incorporated Common Stock had a positive return on equity of 13.03% and a negative net margin of 17.01%. People Incorporated Common Stock's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts expect that People Incorporated Common Stock will post 6.97 EPS for the current fiscal year.

Institutional Trading of People Incorporated Common Stock

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in shares of People Incorporated Common Stock by 61.3% in the first quarter. Parallel Advisors LLC now owns 613 shares of the company's stock valued at $25,000 after buying an additional 233 shares during the period. Essential Partners LLC lifted its position in shares of People Incorporated Common Stock by 177.1% during the 1st quarter. Essential Partners LLC now owns 1,607 shares of the company's stock valued at $64,000 after acquiring an additional 1,027 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of People Incorporated Common Stock by 242.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,607 shares of the company's stock worth $64,000 after purchasing an additional 1,138 shares during the period. Rockefeller Capital Management L.P. raised its stake in People Incorporated Common Stock by 251.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,937 shares of the company's stock valued at $76,000 after purchasing an additional 1,386 shares in the last quarter. Finally, Syon Capital LLC bought a new stake in People Incorporated Common Stock during the second quarter worth about $238,000. Institutional investors own 88.90% of the company's stock.

Key Stories Impacting People Incorporated Common Stock

Here are the key news stories impacting People Incorporated Common Stock this week:

• Positive Sentiment: Goldman Sachs, Truist, Citizens JMP and KeyCorp all maintained favorable ratings—buy, buy, market outperform and overweight, respectively. Their revised targets still imply potential upside from the roughly $41 share price. Goldman Sachs rating
• Neutral Sentiment: A news report says PPLI’s stock rose despite a deep Q3 earnings loss, suggesting the reported loss has not prevented the shares from advancing. The headline does not identify a specific reason for the move. People stock price rises despite Q3 loss
• Negative Sentiment: All four firms lowered their price targets: Goldman Sachs to $56 from $63, Truist to $59 from $62, Citizens JMP to $47 from $54, and KeyCorp to $44 from $50. The cuts signal more cautious valuation expectations, despite the firms retaining favorable ratings.
• Negative Sentiment: Third-quarter results are reported inconsistently. MarketBeat cites a $9.15-per-share loss versus expectations for a $0.23 loss and revenue down 3.6% year over year; Zacks instead reports earnings of $2.63 per share, beating estimates. The conflicting figures make the earnings signal unclear. Zacks Q3 earnings report

About People Incorporated Common Stock

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle. It also operates a digital marketplace that connects home service professionals with consumers for repairing, remodeling, cleaning, landscaping, maintenance, and enhancement services under the Angi Ads, Angi Leads, and Angi Services brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.