People Incorporated Common Stock (NASDAQ:PPLI) Stock Price Target Lowered at Truist Financial

Key Points

• Truist Financial cut its price target on PPLI from $62 to $59 but maintained a Buy rating; the new target implies 43.06% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and a $54.77 average price target, with nine Buy, five Hold, and one Sell rating.
• PPLI reported a quarterly loss of $9.15 per share, missing the consensus estimate of a $0.23 loss; revenue declined 3.6% year over year.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) had its target price cut by analysts at Truist Financial from $62.00 to $59.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 43.06% from the stock's previous close.

PPLI has been the subject of a number of other reports. KeyCorp reduced their target price 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. JPMorgan Chase & Co. started coverage on shares of People Incorporated Common Stock in a research report on Friday, September 11th. They set an "overweight" rating and a $54.00 price target on the stock. 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. Citizens Jmp cut their price objective on shares of People Incorporated Common Stock from $54.00 to $47.00 and set a "market outperform" rating for the company in a report on Wednesday. Finally, TD Cowen reiterated a "buy" rating on shares of People Incorporated Common Stock in a report on Tuesday, August 4th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, People Incorporated Common Stock has an average rating of "Moderate Buy" and a consensus target price of $54.77.

People Incorporated Common Stock Price Performance

Shares of PPLI traded up $2.74 during trading hours on Wednesday, hitting $41.24. 859,039 shares of the stock were exchanged, compared to its average volume of 1,099,741. The stock's 50-day moving average price is $38.79 and its two-hundred day moving average price is $40.43. People Incorporated Common Stock has a 12-month low of $31.42 and a 12-month high of $48.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.69 and a current ratio of 3.69. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -9.37 and a beta of 1.00.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nilsine Partners LLC purchased a new position in People Incorporated Common Stock during the second quarter worth about $1,492,000. Syon Capital LLC purchased a new stake in shares of People Incorporated Common Stock in the 2nd quarter valued at approximately $238,000. Essential Partners LLC grew its stake in shares of People Incorporated Common Stock by 177.1% in the 1st quarter. Essential Partners LLC now owns 1,607 shares of the company's stock valued at $64,000 after buying an additional 1,027 shares during the period. Amundi increased its holdings in shares of People Incorporated Common Stock by 397.4% during the 1st quarter. Amundi now owns 152,304 shares of the company's stock worth $6,097,000 after buying an additional 121,681 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of People Incorporated Common Stock by 242.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,607 shares of the company's stock worth $64,000 after buying an additional 1,138 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

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.

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