JPMorgan Chase & Co. Reaffirms "Overweight" Rating for People Incorporated Common Stock (NASDAQ:PPLI)

Key Points

• JPMorgan reaffirmed its “Overweight” rating on People Incorporated Common Stock and set a $54 price target, implying 43.85% upside from the prior close.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $56.08, with several firms recently raising their targets.
• Shares opened at $37.54, while the company reported quarterly EPS of $6.68, beating estimates by $7.08; revenue totaled $436.74 million, down 1.5% year over year. Institutional investors own 88.9% of the stock.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at JPMorgan Chase & Co. in a research report issued on Friday, Benzinga reports. They currently have a $54.00 target price on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 43.85% from the stock's previous close.

A number of other brokerages also recently weighed in on PPLI. Weiss Ratings upgraded People Incorporated Common Stock from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 5th. Benchmark lifted their price objective on shares of People Incorporated Common Stock from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Citizens Jmp boosted their target price on shares of People Incorporated Common Stock from $47.00 to $54.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 5th. Truist Financial increased their price objective on shares of People Incorporated Common Stock from $50.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised shares of People Incorporated Common Stock from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $56.08.

People Incorporated Common Stock Stock Down 0.5%

Shares of NASDAQ PPLI opened at $37.54 on Friday. The stock has a market capitalization of $2.58 billion, a PE ratio of 8.38 and a beta of 1.03. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average of $41.80 and a 200-day moving average of $41.47. People Incorporated Common Stock has a 52-week low of $29.56 and a 52-week high of $48.32.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $6.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $7.08. People Incorporated Common Stock had a net margin of 16.05% and a return on equity of 8.48%. The firm had revenue of $436.74 million during the quarter, compared to the consensus estimate of $433.77 million. During the same quarter in the prior year, the company earned $2.57 EPS. The company's revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that People Incorporated Common Stock will post 6.97 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PPLI. Goldman Sachs Group Inc. increased its position in People Incorporated Common Stock by 38.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company's stock worth $19,087,000 after purchasing an additional 115,652 shares during the last quarter. United Services Automobile Association bought a new stake in shares of People Incorporated Common Stock in the 1st quarter valued at approximately $207,000. Empowered Funds LLC increased its holdings in People Incorporated Common Stock by 9.8% in the first quarter. Empowered Funds LLC now owns 8,037 shares of the company's stock worth $369,000 after buying an additional 718 shares during the last quarter. Focus Partners Wealth acquired a new position in People Incorporated Common Stock in the first quarter worth approximately $270,000. Finally, Creative Planning raised its holdings in shares of People Incorporated Common Stock by 8.8% during the 2nd quarter. Creative Planning now owns 11,619 shares of the company's stock valued at $434,000 after purchasing an additional 944 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

People Incorporated Common Stock Company Profile

IAC NASDAQ: IAC is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company's operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC's Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.

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