Benchmark Boosts People Incorporated Common Stock (NASDAQ:PPLI) Price Target to $70.00

Key Points

• Benchmark raised its price target for People Incorporated Common Stock from $60 to $70 and maintained a “buy” rating, implying 56.39% upside from the reported $44.76 price.
• Analyst sentiment remains favorable, with nine buy ratings, five holds and one sell; the stock has an average “Moderate Buy” rating and consensus target of $55.07.
• The shares fell 3.6% in Wednesday trading despite the company reporting quarterly EPS of $6.68, beating estimates by $7.08, while institutional investors own 88.9% of outstanding shares.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) had its price objective raised by analysts at Benchmark from $60.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price objective points to a potential upside of 56.39% from the company's current price.

Several other brokerages have also recently weighed in on PPLI. The Goldman Sachs Group raised their price target on shares of People Incorporated Common Stock from $48.00 to $56.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Piper Sandler set a $52.00 price target on shares of People Incorporated Common Stock in a report on Thursday, May 7th. Barclays increased their price objective on shares of People Incorporated Common Stock from $48.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. KeyCorp lifted their target price on shares of People Incorporated Common Stock from $41.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Finally, Truist Financial boosted their target price on People Incorporated Common Stock from $50.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.07.

People Incorporated Common Stock Trading Down 3.6%

PPLI stock traded down $1.67 during mid-day trading on Wednesday, reaching $44.76. The company's stock had a trading volume of 854,487 shares, compared to its average volume of 1,092,270. People Incorporated Common Stock has a 12 month low of $29.56 and a 12 month high of $48.32. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.30. The business's 50 day moving average price is $43.93 and its 200 day moving average price is $41.05. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 120.98 and a beta of 1.04.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $6.68 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $7.08. The company had revenue of $436.74 million during the quarter, compared to analyst estimates of $433.77 million. People Incorporated Common Stock had a net margin of 16.05% and a return on equity of 8.66%. People Incorporated Common Stock's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 EPS. On average, equities research analysts predict that People Incorporated Common Stock will post -0.23 EPS for the current year.

Institutional Investors Weigh In On People Incorporated Common Stock

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC increased its position in People Incorporated Common Stock by 61.3% in the first quarter. Parallel Advisors LLC now owns 613 shares of the company's stock worth $25,000 after buying an additional 233 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of People Incorporated Common Stock by 173.4% in the fourth quarter. Hantz Financial Services Inc. now owns 782 shares of the company's stock valued at $31,000 after buying an additional 496 shares during the period. Advisory Services Network LLC purchased a new position in shares of People Incorporated Common Stock during the 3rd quarter valued at $38,000. Quarry LP bought a new position in shares of People Incorporated Common Stock during the 4th quarter worth $59,000. Finally, Essential Partners LLC grew its stake 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 worth $64,000 after acquiring an additional 1,027 shares during the period. Institutional investors own 88.90% of the company's stock.

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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