Plus500 (LON:PLUS) Declares Stock Repurchase Plan

Plus500 (LON:PLUS) announced that its Board of Directors has authorized a stock repurchase program on Monday, February 16th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Liberum Capital restated a “buy” rating and set a GBX 3,750 target price on shares of Plus500 in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of GBX 3,304.67.

Plus500 Trading Up 0.7%

Shares of PLUS stock opened at GBX 4,714 on Tuesday. The firm’s 50 day moving average is GBX 3,948.24 and its 200 day moving average is GBX 3,433.52. The stock has a market capitalization of £3.31 billion, a P/E ratio of 13.09, a PEG ratio of 0.24 and a beta of 0.20. Plus500 has a 12 month low of GBX 2,464 and a 12 month high of GBX 4,974.

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.