Plus500 (LON:PLUS) Share Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Plus500's stock price has fallen below its 200-day moving average of GBX 3,116.95, indicating a potential bearish trend as it traded as low as GBX 3,050.
• The company has announced a $90 million stock repurchase program, which suggests management believes the stock is undervalued.
• Analysts maintain a consensus rating of "Moderate Buy" for Plus500, with target prices ranging from GBX 3,400 to GBX 3,750.

Plus500 Ltd. (LON:PLUS - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 3,116.95 ($42.10) and traded as low as GBX 3,050 ($41.19). Plus500 shares last traded at GBX 3,080 ($41.60), with a volume of 5,059,826 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PLUS shares. Liberum Capital upped their target price on shares of Plus500 from GBX 3,650 to GBX 3,750 and gave the company a "buy" rating in a report on Monday, August 11th. Peel Hunt reissued a "buy" rating and issued a GBX 3,400 price objective on shares of Plus500 in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of GBX 3,304.67.

Plus500 Stock Up 0.8%

The stock has a market cap of £2.19 billion, a PE ratio of 855.56, a P/E/G ratio of 0.24 and a beta of 0.20. The business's fifty day moving average is GBX 3,233.47 and its 200 day moving average is GBX 3,116.95.

Plus500 announced that its board has approved a stock repurchase program on Monday, August 11th that allows the company to repurchase $90.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Plus500 Company Profile

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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