Plus500 (LON: PLUS) shares rose 3.8% on Monday to close at 4,622p after a strong first-quarter trading update prompted bullish analyst commentary, with Cavendish maintaining its buy rating and flagging potential upgrades to full-year forecasts.
Cavendish analyst Rahim Karim said the results were encouraging on multiple fronts, highlighting better-than-anticipated customer numbers and continued momentum in the group’s non-OTC business as particularly positive signals beyond the headline revenue and EBITDA beats.
Karim told investors he is now reviewing forecasts following the announcement.
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Elsewhere on Monday, Panmure Liberum analysts described Plus500’s start to the year as “stellar.”
The commentary on full-year guidance, with management saying it expects 2026 revenue and EBITDA to be ahead of current market expectations, sets up a potential round of estimate revisions across the Street, which Cavendish said it would reflect in an updated forecast.
Despite the strong session, the stock closed at 4,622p, marginally above the analyst consensus price target of 4,588p, according to TradingView data, suggesting the rally has effectively priced in near-term upside.
The consensus implies roughly 0.75% downside from Monday’s close.
Sentiment among analysts covering the stock remains broadly constructive. Of the seven analysts tracked by TradingView, five carry buy ratings, and two have hold ratings.
With management guiding ahead of market expectations, guidance upgrades are likely to follow and the consensus price target may not reflect the full extent of analyst optimism once estimates are revised.
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