Canaccord Genuity Group Forecasts Strong Price Appreciation for Plus500 (LON:PLUS) Stock

Plus500 (LON:PLUS) had its target price hoisted by stock analysts at Canaccord Genuity Group from GBX 2,650 ($35.21) to GBX 2,764 ($36.72) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential downside of 10.55% from the company’s previous close.

Plus500 Stock Performance

Shares of PLUS opened at GBX 3,090 ($41.05) on Wednesday. Plus500 has a fifty-two week low of GBX 2,068 ($27.47) and a fifty-two week high of GBX 3,120 ($41.45). The firm has a 50-day simple moving average of GBX 2,831.39 and a 200-day simple moving average of GBX 2,687.91. The company has a market capitalization 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.

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.