Plus500 (LON:PLUS) Earns “Buy” Rating from Peel Hunt

Plus500 (LON:PLUS)‘s stock had its “buy” rating restated by equities research analysts at Peel Hunt in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a GBX 3,400 ($45.90) price objective on the stock. Peel Hunt’s target price would suggest a potential upside of 7.77% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group upped their target price on shares of Plus500 from GBX 2,650 ($35.78) to GBX 2,764 ($37.32) and gave the company a “hold” rating in a research report on Wednesday, April 30th. Liberum Capital upped their price target on Plus500 from GBX 3,650 ($49.28) to GBX 3,750 ($50.63) and gave the company a “buy” rating in a research note on Monday.

Plus500 Trading Down 2.3%

Plus500 stock opened at GBX 3,154.73 ($42.59) on Monday. Plus500 has a 1 year low of GBX 2,304 ($31.11) and a 1 year high of GBX 3,492 ($47.14). The company has a market cap of £2.91 billion, a PE ratio of 11.67, a PEG ratio of 0.24 and a beta of 0.20. The company’s 50-day moving average is GBX 3,352.08 and its two-hundred day moving average is GBX 3,088.34.

Plus500 announced that its Board of Directors has approved a share repurchase plan on Monday, August 11th that authorizes the company to repurchase $90.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors 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.