UBS Group Boosts People Incorporated Common Stock (NASDAQ:PPLI) Price Target to $56.00

Key Points

• UBS Group raised its price target for People Incorporated Common Stock from $49 to $56 while maintaining a “neutral” rating, implying 26.13% upside from the prior close.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus, an average target price of $55.57, and nine Buy ratings versus five Holds and one Sell.
• The stock closed at $44.40 after falling $2.03, while institutional investors own 88.9% of shares. The company also reported quarterly revenue of $436.74 million and earnings of $6.68 per share, exceeding consensus estimates.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) had its price objective raised by stock analysts at UBS Group from $49.00 to $56.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 26.13% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. TD Cowen restated a "buy" rating on shares of People Incorporated Common Stock in a research note on Tuesday. Benchmark increased their target price on shares of People Incorporated Common Stock from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday. Piper Sandler set a $52.00 price target on shares of People Incorporated Common Stock in a report on Thursday, May 7th. Citizens Jmp upped their price objective on shares of People Incorporated Common Stock from $47.00 to $54.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Finally, KeyCorp lifted their target price on shares of People Incorporated Common Stock from $41.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.57.

People Incorporated Common Stock Price Performance

NASDAQ PPLI traded down $2.03 on Wednesday, reaching $44.40. The company's stock had a trading volume of 939,892 shares, compared to its average volume of 1,092,854. People Incorporated Common Stock has a 52 week low of $29.56 and a 52 week high of $48.32. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.05 billion, a PE ratio of 120.00 and a beta of 1.04. The business has a 50-day moving average price of $43.93 and a 200 day moving average price of $41.05.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $6.68 earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $7.08. People Incorporated Common Stock had a return on equity of 8.66% and a net margin of 16.05%.The company had revenue of $436.74 million for the quarter, compared to the consensus estimate of $433.77 million. During the same period in the previous year, the business earned $2.57 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect that People Incorporated Common Stock will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PPLI. Bank of Montreal Can grew its holdings in People Incorporated Common Stock by 42,721.4% during the 4th quarter. Bank of Montreal Can now owns 3,128,104 shares of the company's stock worth $122,309,000 after acquiring an additional 3,120,799 shares during the period. Aristeia Capital L.L.C. raised its holdings in People Incorporated Common Stock by 100.7% during the 4th quarter. Aristeia Capital L.L.C. now owns 5,702,459 shares of the company's stock worth $222,966,000 after buying an additional 2,861,871 shares during the period. Boston Partners acquired a new stake in shares of People Incorporated Common Stock during the fourth quarter worth $29,114,000. Empyrean Capital Partners LP acquired a new position in shares of People Incorporated Common Stock during the fourth quarter worth about $26,471,000. Finally, Corvex Management LP boosted its position in People Incorporated Common Stock by 20.3% during the 4th quarter. Corvex Management LP now owns 3,355,075 shares of the company's stock worth $131,183,000 after acquiring an additional 566,696 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

About People Incorporated Common Stock

IAC NASDAQ: IAC is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company's operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC's Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.

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