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Prices & Quotes - UK Markets - Plus500 Ltd (DI) (PLUS)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 1,632.00p
Change Today:
22.00p
Market Cap:
1,707.98m
Sector:
Financial Services

Liberum hikes Plus500 price target after 'record' H1 results

By Michele Maatouk

Date: Tuesday 11 Aug 2020

LONDON (ShareCast) - (Sharecast News) - House broker Liberum hiked its price target on shares of Plus500 to 1,950p from 1,680p following a "record-breaking" set of results.
Plus500 more than tripled its interim dividend and reported soaring first-half revenue and profit driven by "unprecedented" volatile markets during the Covid-19 crisis. Pre-tax profit rose to $363.2m (278m) from $63.9m in the six months to the end of June from a year earlier as trading income jumped to $564.2m from $148m.

Liberum said the record results are due to more than just favourable market conditions.

"They also reflect the benefits of the group's best-in-class platform, which continues to deliver despite lower leverage limits," it said. "Its scalable technology and agile marketing algorithms has enabled it to win significant market share, drive continued improvement in financial returns, and be one of the first companies in Israel to receive the status of a Preferred Technological Enterprise."

Liberum, which reiterated its 'buy' rating on the stock, noted that this accreditation brings a number of benefits including significant tax credits, which have resulted in the broker increasing its medium-term earnings per share forecasts by an average 21%.

It said the current discount at which the stock trades versus its peers is set to unwind given the performance of the platform during the first six months of the year.

At 1400 BST, the shares were up 7.9% at 1,352.51p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PLUS Market Data

Currency UK Pounds
Price 1,632.00p
Change Today 22.00p
52 Week High 1,659.50p
52 Week Low 731.20p
Volume 365,641
Shares Issued 104.66m
Market Cap 1,707.98m

Performance Indicators

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PLUS Dividends

  Latest Previous
  Interim Final
Ex-Div 20-Aug-20 27-Feb-20
Paid 11-Nov-20 13-Jul-20
Amount 95.31¢ 37.67¢

Trades for 23-Oct-2020

Time Volume / Share Price
16:29 57 @ 1,633.50p
16:29 6 @ 1,633.50p
16:29 71 @ 1,633.50p
16:29 184 @ 1,633.50p
16:29 245 @ 1,633.50p

PLUS Key Personnel

Chair Penelope Ruth Judd
CEO David Zruia