Peel Hunt reiterated their buy rating on shares of Plus500 (LON:PLUS - Free Report) in a research note published on Monday morning, MarketBeat reports. Peel Hunt currently has a GBX 3,400 ($46.00) target price on the stock.
A number of other equities analysts have also commented on PLUS. Canaccord Genuity Group lifted their price target on shares of Plus500 from GBX 2,650 ($35.85) to GBX 2,764 ($37.40) and gave the company a "hold" rating in a research report on Wednesday, April 30th. Liberum Capital boosted their target price on shares of Plus500 from GBX 3,650 ($49.38) to GBX 3,750 ($50.74) and gave the stock a "buy" rating in a research report on Monday.
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Plus500 Price Performance
PLUS traded down GBX 16 ($0.22) during midday trading on Monday, hitting GBX 3,100 ($41.94). 98,031 shares of the company's stock traded hands, compared to its average volume of 344,849. The company has a market cap of £2.86 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.24 and a beta of 0.20. The stock's fifty day simple moving average is GBX 3,339.53 and its 200-day simple moving average is GBX 3,091.08. Plus500 has a one year low of GBX 2,304 ($31.17) and a one year high of GBX 3,492 ($47.25).
Plus500 announced that its Board of Directors has authorized a stock buyback program on Monday, August 11th that permits the company to buyback $90.00 million in shares. This buyback authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
About Plus500
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Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.
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