In yesterday’s Wall Street session, Paltalk Inc. (NASDAQ:PALT) shares traded at $3.08, up 3.01% from the previous session.
As of this writing, 1 analysts cover Paltalk Inc. (NASDAQ:PALT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $4.00, we find $4.00. Given the previous closing price of $2.99, this indicates a potential upside of 33.78 percent. PALT stock price is now 87.37% away from the 50-day moving average and 66.97% away from the 200-day moving average. The market capitalization of the company currently stands at $26.27M.
There are 1 analysts who have given it a hold rating, whereas 0 have given it a buy rating. Brokers who have rated the stock have averaged $4.00 as their price target over the next twelve months.
In other news, Katz Jason, CEO, President, COO & Chairman bought 5,900 shares of the company’s stock on Aug 24. The stock was bought for $10,561 at an average price of $1.79. Upon completion of the transaction, the CEO, President, COO & Chairman now directly owns 625,912 shares in the company, valued at $1.93 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23, CEO, President, COO & Chairman Katz Jason bought 9,100 shares of the business’s stock. A total of $16,289 was incurred on buying the stock at an average price of $1.79. This leaves the insider owning 620,012 shares of the company worth $1.91 million. A total of 6.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PALT stock. A new stake in Paltalk Inc. shares was purchased by SUSQUEHANNA INTERNATIONAL GROUP, LLP during the first quarter worth $312,000. CITADEL ADVISORS LLC invested $181,000 in shares of PALT during the first quarter. In the first quarter, JANE STREET GROUP, LLC acquired a new stake in Paltalk Inc. valued at approximately $52,000. UBS GROUP AG acquired a new stake in PALT for approximately $24,000. In total, there are 12 active investors with 7.80% ownership of the company’s stock.
Tuesday morning saw Paltalk Inc. (NASDAQ: PALT) opened at $2.9800. During the past 12 months, Paltalk Inc. has had a low of $1.28 and a high of $4.44. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.60, and a quick ratio of 4.60. The fifty day moving average price for PALT is $1.6436 and a two-hundred day moving average price translates $1.8447 for the stock.
The latest earnings results from Paltalk Inc. (NASDAQ: PALT) was released for Jun, 2022. According to the Software – Application Company, earnings per share came in at -$0.12, missing analysts’ expectations of -$0.06 by -0.06. This compares to -$0.05 EPS in the same period last year. The net profit margin was -25.90% and return on equity was -12.40% for PALT. The company reported revenue of $2.62 million for the quarter, compared to $3.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.32 percent. For the current quarter, analysts expect PALT to generate $2.62M in revenue.
Paltalk Inc.(PALT) Company Profile
Paltalk, Inc., together with its subsidiaries, develops communications software and multimedia social applications worldwide. The company offers consumer applications, which include Paltalk, Camfrog, and Tinychat for live video chat; and Vumber, a telecommunications application that enables users to have multiple phone numbers in any area code through which calls can be forwarded to a user’s existing cell phone or landline telephone number. In addition, the company provides product payment options, where users can pay by credit card, PayPal, western union, check, local e-wallet providers, or complete an in-app purchase through the Apple App Store or Google Play Store for Android users. It also provides technology services and professional services, such as development, integration, engineering, licensing, other services. The company was formerly known as PeerStream, Inc. and changed its name to Paltalk, Inc. in May 2020. Paltalk, Inc. is based in Jericho, New York.