Plus500 (LON:PLUS) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Plus500 Ltd.'s stock recently fell below its 200-day moving average, indicating potential volatility, as it traded at GBX 3,078 compared to a moving average of GBX 3,099.85.
• Analysts have mixed ratings for Plus500, with two giving it a "Buy" and one a "Hold," while the consensus target price stands at GBX 3,304.67.
• The company has initiated a $90.00 million share repurchase plan, which is often seen as a sign that the board believes the stock is undervalued.

Plus500 Ltd. (LON:PLUS - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 3,099.85 ($41.90) and traded as low as GBX 3,078 ($41.61). Plus500 shares last traded at GBX 3,128 ($42.28), with a volume of 826,643 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Plus500 from GBX 2,650 to GBX 2,764 and gave the company a "hold" rating in a research report on Wednesday, April 30th. Peel Hunt reiterated a "buy" rating and issued a GBX 3,400 target price on shares of Plus500 in a research note on Monday, August 11th. Finally, Liberum Capital lifted their price target on Plus500 from GBX 3,650 to GBX 3,750 and gave the stock a "buy" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of GBX 3,304.67.

Plus500 Trading Up 0.8%

The firm has a market cap of £2.85 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.24 and a beta of 0.20. The stock's 50 day moving average is GBX 3,301.21 and its 200 day moving average is GBX 3,106.67.

Plus500 declared that its Board of Directors has approved a share buyback plan on Monday, August 11th that authorizes the company to repurchase $90.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board 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.