People Incorporated Common Stock (NASDAQ:PPLI) Given New $56.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs lowered its price target on PPLI from $63 to $56 but maintained a Buy rating, implying about 36% upside from the cited current price. Analysts overall rate the stock “Moderate Buy,” with a consensus target of $54.77.
• The company reported quarterly EPS of negative $9.15, far below the expected negative $0.23, while revenue fell 3.6% year over year. The article also notes conflicting earnings reports elsewhere, so the figures may warrant verification.
• PPLI shares rose $2.76 to $41.26 on Wednesday, despite the reported earnings shortfall.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) had its target price lowered by analysts at The Goldman Sachs Group from $63.00 to $56.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's target price indicates a potential upside of 35.72% from the company's current price.

A number of other research firms have also weighed in on PPLI. TD Cowen reaffirmed a "buy" rating on shares of People Incorporated Common Stock in a report on Tuesday, August 4th. UBS Group boosted their price objective on shares of People Incorporated Common Stock from $49.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Weiss Ratings cut shares of People Incorporated Common Stock from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 23rd. Citigroup raised their price target on shares of People Incorporated Common Stock from $48.00 to $52.00 and gave the company a "buy" rating in a report on Monday, August 17th. Finally, KeyCorp reduced their price target on shares of People Incorporated Common Stock from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.77.

People Incorporated Common Stock Stock Performance

PPLI traded up $2.76 on Wednesday, hitting $41.26. The company's stock had a trading volume of 1,233,130 shares, compared to its average volume of 1,102,453. The company's 50 day simple moving average is $38.79 and its 200-day simple moving average is $40.43. The firm has a market cap of $2.83 billion, a P/E ratio of -9.38 and a beta of 1.00. People Incorporated Common Stock has a 12 month low of $31.42 and a 12 month high of $48.32. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.27.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($9.15) EPS for the quarter, missing analysts' consensus estimates 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 was down 3.6% compared to the same quarter last year. Analysts forecast that People Incorporated Common Stock will post 6.97 EPS for the current year.

Institutional Trading of People Incorporated Common Stock

Several institutional investors and hedge funds have recently made changes to their positions in PPLI. Empyrean Capital Partners LP boosted its position in People Incorporated Common Stock by 21.1% during the first quarter. Empyrean Capital Partners LP now owns 820,000 shares of the company's stock valued at $32,825,000 after buying an additional 143,000 shares during the period. Royal Bank of Canada increased its holdings in shares of People Incorporated Common Stock by 5.9% in the first quarter. Royal Bank of Canada now owns 458,414 shares of the company's stock worth $18,350,000 after buying an additional 25,423 shares during the period. ACR Alpine Capital Research LLC increased its holdings in shares of People Incorporated Common Stock by 4.6% in the first quarter. ACR Alpine Capital Research LLC now owns 450,788 shares of the company's stock worth $18,045,000 after buying an additional 19,801 shares during the period. Principal Financial Group Inc. increased its holdings in shares of People Incorporated Common Stock by 2.0% in the first quarter. Principal Financial Group Inc. now owns 315,957 shares of the company's stock worth $12,648,000 after buying an additional 6,198 shares during the period. Finally, Whitebox Advisors LLC lifted its stake in shares of People Incorporated Common Stock by 71.8% in the 1st quarter. Whitebox Advisors LLC now owns 217,383 shares of the company's stock valued at $8,702,000 after acquiring an additional 90,819 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

People Incorporated Common Stock News Roundup

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

• Positive Sentiment: PPLI’s share price rose despite reports of a steep quarterly loss, suggesting investors may be weighing other factors or treating the earnings figures cautiously. People (PPLI) Stock Price Rises Despite Deep Q3 Earnings Loss
• Neutral Sentiment: Truist lowered its target to $59 from $62 but maintained a Buy rating; Citizens JMP cut its target to $47 from $54 and retained Market Outperform; KeyCorp reduced its target to $44 from $50 and kept Overweight. The lower targets temper the bullish ratings, though all three firms still see potential upside from the cited $41.35 price. Read More., Read More., Read More.
• Neutral Sentiment: Q3 EPS reporting is inconsistent: one account says PPLI earned $2.63 per share, beating estimates, while other reports cite a loss of about $9.15 per share versus an expected loss of $0.23. Investors may want to check the company’s release or call transcript to resolve the discrepancy. Read More., Read More.
• Negative Sentiment: Revenue was reported at $430.8 million, down 3.6% year over year. Some earnings reports also cite a substantial quarterly loss, which would be a significant concern if confirmed. Read More.

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.