Plus500 (LON:PLUS) Price Target Raised to GBX 3,750

Key Points

• Plus500's price target has been increased by Liberum Capital from GBX 3,650 to GBX 3,750, indicating a potential upside of 18.52% from its previous close.
• Separately, Canaccord Genuity raised their price target on Plus500 from GBX 2,650 to GBX 2,764, assigning a "hold" rating.
• The company has launched a $90 million share buyback plan, signifying confidence in its stock valuation by the Board of Directors.

Plus500 (LON:PLUS - Get Free Report) had its target price hoisted by Liberum Capital from GBX 3,650 ($49.38) to GBX 3,750 ($50.74) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the stock. Liberum Capital's price target would indicate a potential upside of 20.97% from the company's previous close.

Separately, Canaccord Genuity Group upped 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 report on Wednesday, April 30th.

Plus500 Price Performance

Shares of Plus500 stock traded down GBX 16 ($0.22) on Monday, hitting GBX 3,100 ($41.94). The company had a trading volume of 98,031 shares, compared to its average volume of 344,849. The firm has a market capitalization of £2.86 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.24 and a beta of 0.20. Plus500 has a twelve month low of GBX 2,304 ($31.17) and a twelve month high of GBX 3,492 ($47.25). The stock has a 50-day moving average of GBX 3,339.53 and a 200-day moving average of GBX 3,091.08.

Plus500 announced that its board has initiated a stock buyback program on Monday, August 11th that permits the company to buyback $90.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

About Plus500

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.