Plus500 (LON:PLUS) Stock Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Plus500 Ltd. shares fell below their 200-day moving average during trading, hitting a low of GBX 3,030, while currently trading at GBX 3,072.
• The company announced a stock buyback plan worth $90 million, allowing for the purchase of up to 3% of its stock, indicating a belief that its shares are undervalued.
• Wall Street analysts have largely rated Plus500 as a "Moderate Buy," with a consensus price target of approximately GBX 3,304.67 following recent ratings upgrades.

Plus500 Ltd. (LON:PLUS - Get Free Report)'s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 3,109.67 ($41.99) and traded as low as GBX 3,030 ($40.92). Plus500 shares last traded at GBX 3,072 ($41.49), with a volume of 91,820 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on PLUS shares. Liberum Capital upped their price objective on Plus500 from GBX 3,650 to GBX 3,750 and gave the stock a "buy" rating in a research 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Plus500 currently has a consensus rating of "Moderate Buy" and an average target price of GBX 3,304.67.

Plus500 Trading Down 1.3%

The business has a fifty day moving average of GBX 3,271.19 and a 200 day moving average of GBX 3,114.57. The company has a market capitalization of £2.16 billion, a PE ratio of 878.84, a PEG ratio of 0.24 and a beta of 0.20.

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