Plus500 (LON:PLUS) Shares Cross Above 50 Day Moving Average - What's Next?

Key Points

• Plus500 Ltd. shares crossed above their 50-day moving average during trading, with the current price at GBX 3,189.75 ($43.00).
• Equities research analysts have upgraded their ratings, with Liberum Capital raising the target to GBX 3,750 and Peel Hunt setting a target of GBX 3,400, indicating a positive outlook for the stock.
• The board approved a $90 million share repurchase program, which suggests the company believes its shares are undervalued.

Plus500 Ltd. (LON:PLUS - Get Free Report) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 3,165.65 ($42.68) and traded as high as GBX 3,244 ($43.73). Plus500 shares last traded at GBX 3,189.75 ($43.00), with a volume of 77,071 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PLUS shares. Liberum Capital upped their price target 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 reaffirmed a "buy" rating and set a GBX 3,400 price objective on shares of Plus500 in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 3,304.67.

Plus500 Price Performance

The business has a fifty day moving average of GBX 3,165.65 and a 200 day moving average of GBX 3,164.43. The stock has a market cap of £2.26 billion, a price-to-earnings ratio of 888.89, a P/E/G ratio of 0.24 and a beta of 0.20.

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