Share Name Share Symbol Market Type Share ISIN Share Description
Plus500 LSE:PLUS London Ordinary Share IL0011284465 ORD ILS0.01 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -73.00p -4.79% 1,450.00p 1,608,451 16:35:25
Bid Price Offer Price High Price Low Price Open Price
1,450.00p 1,451.00p 1,499.00p 1,442.00p 1,498.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 323.72 187.58 129.57 10.8 1,660.9

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Date Time Title Posts
25/9/201816:51PLUS500 - CFD trading systems15,011
05/9/201818:57PLUS500 in FTSE250-
23/8/201814:23share drop5
16/8/201807:57be careful...2

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Plus500 Daily Update: Plus500 is listed in the Software & Computer Services sector of the London Stock Exchange with ticker PLUS. The last closing price for Plus500 was 1,523p.
Plus500 has a 4 week average price of 1,365p and a 12 week average price of 1,365p.
The 1 year high share price is 2,076p while the 1 year low share price is currently 752.50p.
There are currently 114,544,716 shares in issue and the average daily traded volume is 2,701,091 shares. The market capitalisation of Plus500 is £1,662,043,829.16.
andrewclarke99: Agreed. Will be interesting to see the effect on both IGG and Plus share price when the market opens
financethoughts: Warning - sorry for a long post. Hi, have been running through the last 6years worth of accounts for Plus500, and running various valuations (particularly Discounted Cash Flow), in an attempt to calculate a reasonable share price. This is partly due to the recent dip, but also because I have built a reasonable shareholding since seeing how well this compared against various price factors, free cash flow price ratios, screens etc. I've read all relevant RNS's and the slides post the interims. I believe the ESMA rules will make only a small impact for a few trading periods, at most. However, I do believe Q1 was particularly strong (as reported) therefore have chosen to ignore TTM figures as would prefer to be conservative in my calcs. Instead, I've used 2016-2017 growth and applied this to 2017 figures, thereby excluding the Q1 exception. 2016-2017 growth % was not an outlier figure over the last 6 years so seems reasonable. Anyway, having then plotted into the DCF calculator, I get a figure of £54 ps - 264% undervalued. This takes $356m FCF, which is 2017 FCF + 70%. And then assumes 18% growth for 4years, 10% for the next 4yrs, and then a steady (terminal) 3% growth. Having compared my estimates to that of the consensus broker estimates, I realised I was only about 3% out for Net Profit and EPS, so not bad. If I use these figures and try to match Liberum capitals £28 share estimate, I have to use a growth rate of +3.5%, which is ludicrously small for a company with a ROCE of 100% and a cashflow growth of around 60% over the last 5 years. Long story short - even with a reduction for ESMA, and complete removal of the H1 results, this is seriously undervalued. A more realistic value, even using conservative figures for growth, would appear to be around £50 per share.
dumbbunny: Chucko1, noujay and metsis, The shorts are at -5.16% They are not buying the story that inclusion into FTSE250 will bring about an increase in the share price. Their thoughts may lie elsewhere:- a) There’s no doubt ESMA’s new rules, in particular leverage reductions, will cause headwinds for CFD firms, as is its purpose. ESMA new rules may also create opportunities for some firms. b) The agreement that the Plus500 Founders had, who hold 15.94% of the shares of the company, not to sell any further shares they hold in the capital of the Company for a period of 180 days after the completion of the last Placing on 1st March, expired last Sunday. At the previous Placing on 1st March 2018 (seven days after the shares went ex-dividend), sold c.6% of the Company’s issued share capital (7.27 million shares for c. £80m). The price the Founders accepted for their shares was 1100p. A 5.6% discount to previous closing price. www.
letap73: Thank you for your post Selling John - most useful. With regards to one of the trolls on here - he has been consistently short on a company whose share price has gone from circa £1.00 to £15+ currently in five years. He appears to be long on a company whose share price has gone from circa £1.00 to £0.095. I would say this poster was a witless Walter Mitty who is far too easy to bait. However, issuing what constitutes a number of death threats - on this thread and others is clearly not on - and needs to be acted on.
jplus: Good question. Nothing has really changed that got the price up to 2050 in first place. With the divi of 107p now ex divi the price is actually equivalent to 1600 was slightly over bought before results. Looks like people have been over cute on trying to avoid tax on divi, causing panic. Should get some of that back over coming daysHedge funds also trying to take advantage of divi sellers/ESMA Concerns over ESMA Personally I think despite all this volatility, I think fundamentals remain unchanged. Forget Q1 it was a freak. Q2 still was a fantastic quarter, due to high volatility, growth outside EAA, low acquisition costs, low operating costs, fantastic fintech Q3 likely to be the same. First month will be and second two will have effect of ESMA - where all the worry comes from. Which I think is over played. Non EAA has grown from 24% to 29% of total rev. Australia five fold & Singapore a new licence just beginning (IG biggest market) so likely to grow further. ie not covered by ESMA. 5% of customers are EPC accounting for 20% of revenue. 45% of plus revenue came from 1% of customers that is 210m from from 2484 customers - you have to think most of those if not already EPC will be heavily encouraged to become & will want to. 9% account for 90 % of Rev. There will be a good chunk there legible from EPC. These stats reflect favourably to IG. It will be interesting to see what Q3 looks like. Whatever the short term, out look, this company constantly defies expectations. Maybe I'm missing something. It seems cheap with fantastic fundamentals, no debt, a lot of cash on balance sheet, likely good forward earnings. I don't understand the share price. Perhaps we shouldn't worry about share price, worry about management, product and company fundamentals rest takes care of itself over time.
stuffee: The Market has IMO been over spooked by ESMA effects, coupled with the ludicrous profit estimates by the Company's brokers. Plus achieved pre tax profits of $346min in first half 2018 and the brokers are effectively estimating just $74m for the second half or $420m for year, equivalent to eps of c 220p. The super bears can have a field day by broadcasting future annual profit suggestions of just $148m (double 2018 H2). Inevitably the vulnerable share price has been hit due to the ESMA uncertainty. I am not too discouraged re ESMA. As discussed here, unlike many competitors ESMA should not have too great an impact on Plus. After allowing for 28% of its clients ( including those in growing markets such as Australia and Singapore) not within the EEA and outside ESMA's jusisdiction and the growing number of EEA clients switching to professional status, the gearing restrictions should only effect a minority of its business. And of course although the professinal clients are a minority by number, they represent a far higher value of business. In any event the Company has mentioned that relatively few of these non professional clients geared up to the maximum in the past. Plus has always offered clients negative balance protection and should gain from ESMA's new rules on this which might well eliminate smaller competitors. Like many other examples of new legislation affecting businesses, it tends to have a significant immediate impact and then over say 12m to 18m, trading recovers to former levels. The new ESMA rules took effect from 1 August and interesting, the brokers have already stated that trading since then has been "more than encouraging". Estimates for 2019 (which are probably too conservative) are pretax profits of $380m, eps of 200p and dividends of 167p. A prospective PE of around 8 and yield of over 10% won't be avalable for too long IMO. This is too great a discount against competitors, which are not growing so impressively and have now lost many of their leaing market positions to Plus. Before El Cap, sb888 and any interesting successors start learned pleading that Plus is so different to IG, since it does take small positions, they should appreciate Plus has disclosed profits from such trading positions are relatively tiny; like others, it earns its keep from dealing spreads and overnight interest charges. There is not so much difference in business models, apart from Plus' great success in new markets and superior growth. Plus does not enter the FTSE 250 until 24 Sept, so I expect considerable tracker fund buying in Sept. Markets always hate uncertainty and I guess Plus price will maintain its volatility until it starts disclosing Q3 results but I don't feel the current yield of 10% will be around for too long.
oi_oi_savaloy: I'm just repeating what someone else has said on the LSE chat but is there an argument to say that the rise anticipated when joining ftse250, the new rules (and how well plus500 has dealt with them) and other factors that everyone is saying (cant think of them right now!) will lead to the continued share price rise already been factored in to things and thus the share price might fall come results on Monday? that the recent stellar rise can't continue - that actually we're on the cusp of either a pause or fall? I wrote on the other chat that I seem to remember that the directors of plus500 have a habit of coming out with news 'out of the blue' around results time - with the share price at £20 - I'd not be surprised if they've decided to take some profit - that might be coming out on Monday too perhaps. I am a believer in this share (no expert, no access to deep research, not a trader or expert or in fact anything really); just putting my two penneth out there.
poolefox: EPlus500, the top contributor to the fund for the year (+11.60%). 2017 was a period of significant progress for the company. At the start of the year consensus thought earnings per share would be down c.30%. We now believe they will finish up c.85% after five upward profit warnings. They continue to win market share, generate more operating cash flow than any other European CFD operator, and have more active accounts than the next three largest companies together (IG Group, CMC and Saxobank). We had some satisfactory regulatory clarity from ESMA as well in December 2017 on how further regulation will look in 2018 for retail clients so we believe a tighter regulatory environment suits Plus500 well. Historical examples from Japan and Singapore would suggest that lower leverage limits create a healthier CFD market in the medium term, albeit with a possible short-term revenue headwind for a couple of quarters. Apart from the leverage limits, all other changes proposed by ESMA should be of benefit to Plus500. This contrasts with IG Group which still offers binary options and where negative balance protection is neither routine nor without cost. We also believe the market will be surprised by how much of Plus500 revenues comes from 'professional' clients, to whom ESMA regulation does not apply. There will be very little reason for eligible Plus500 clients not to opt for professional client status, which we do not believe to be the case for IG Group clients. There were two new licence wins in the year for Plus500, including Singapore. We believe the company is well positioned to win further licences this year. Despite regulatory changes going through in 2018 (2017 also saw a lot) we believe the company is well positioned to generate good revenue and earnings growth this year. It starts 2018 with c.100% more active customers than the prior year, and has new licence revenue from Singapore starting in January. At its core Plus500 is a market-leading technology and online marketing business combined with a compelling consumer offering, excellent risk management and phenomenal cost control. We see the analogy of Ryanair versus the flag carriers 20 years ago as very appropriate to how Plus500 is positioned Monthly performance Year-to-date performance CAGR since inception These figures refer to the past. Past performance is not a reliable indicator of future results. $ R Class 145.44 $ I Class 158.41 £ I Class 181.67 £ R Class 156.33 € I Class 165.90 Fund Size $159 million Strategy AUM $372 million Fund Inception 06 Jun 2013 Class Inception 22 Aug 2013 Fund Type Irish Long Only UCITS James Hanbury Adrian Courtenay Jamie Grimston For full bios visit now. In the medium term, we expect Plus500 to drive home its competitive advantages in existing markets, and move into new territories and verticals. Our base case is that potentially there are multiples of upside to the current share price. Figure xtract from Odey Allegra factsheet
jpfoster21: some thoughts on the current Plus share price if anyone fancies a read hxxps:// Any comments/discussion welcome.
dasv: markets live just now 11:09AM Plus500 Ltd (PLUS:LSE): Last: 376.25, up 6.25 (+1.69%), High: 403.00, Low: 370.25, Volume: 6.87m BE Quite a turn of events, this. PM Indeed PM Left field bid news here Real time stream connected. New messages will appear here the moment they are published. BE And let's be clear here. It's a shotgun engagement. PM You term this an engagement, rather than a marriage... PM That feels significant BE Well, yes. I think we're a long way away from talking about this deal as if it's completed. BE Basically, it's a shotgun engagement before she's even had the chance to pee on the pregnancy test. PM Bryce! BE Sorry. You're reading the FT, to remind ...... BE So there are a few important things to note .......... BE Firstly, the MAC BE We don't know what it is. But we know there is one. BE The Material Adverse Change clause. BE Conference call was vague to the point of obfuscatory, but we did get this .... BE The "general concept is if business material declines from what was presented to us, this clause will take effect” BE Which in the context of a business that's just lost half its business, feels significant. BE We'll be told about the specific MAC scenarios later, apparently, though no indication when. BE In the meantime, Plus saying it'll be one month until the ID checks are done BE And this deal won't be completed until, perhaps, September BE (With no UK takeover code applying, please remember, so timelines are even fudgier than usual) BE Secondly ....... PM One of the conditions is that it's done by eyar end, mind BE True. BE Secondly ..... BE We learned via the conference call that Playtech approached Plus500, and that “discussions began over a week ago” BE I assume "over a week" means about eight days ago. PM hehehe PM Maybe 9 BE That's not a lot of DD, really. BE So we have a deal on the table for September that can be called off on as-yet undefined terms. BE It seems to me that either Plus500 will be worth a lot more than 400p by September, or a lot less. BE So, yeah, it's an engagement. An engagement before they both head down to Superdrug to find out the specifics of their predicament. BE Thirdly ...... BE We have acceptance from the Plus500 crew ...... BE ... who have 35.6% BE But not, notably, from Odey. PM Interesting, taht BE Yup. No mention in the statement, and one would assume as largest shareholder Odey would be wall-crossed over the weekend. BE Read a lot of arb stuff this morning saying Odey's in sub 300p so will be happy. BE Personally, I'm not so sure. BE Odey funds had 3.97% of Plus at float BE Went up to 13% during July 2014 at around the 440p level. BE Then up to 20% by buying in May BE Given the volatility we can only stab at the prices there, but using closing levels Odey looks to have been buying at prices around 478p, 376p, 322p and all the way down to 285p. BE Back of the envelope, I reckon Odey's average in price will be about 400p. PM hehe PM So currently 6% out of the money PM And there I was thinking the Odey buying was rather clairvoyant... BE If Odey (or Odey's deputies, as we've mentioned before) is confident of the business I can't understand why the fund would tender at breakeven. PM Hmm -- but the statement from Plus pretty much admits that they aren't up to managing the business they have created. certainly not on the publicly-listed stage PM I suspect -- barring a MAC event -- that Odey have no option PM But to accept PM But we'll see PM Meanwhile, it's fair to early to say whether Playtech becomes Dan McC's new plaything BE Yup -- what's interesting here is that it's capitulation from the Plus500 management. Hard to see a holder voting to basically force management to continue running a business they don't want to. BE Though if Odey was averaging down through May volatility for a rescue bid then I guess that would've been extremely .... clairvoyant. BE Have some sellside. Here's UBS. BE Playtech today announced the proposed acquisition of Plus500 for 400p per share, an 8% premium to Friday's close which itself was less than half the 12 month high of 781p seen before the news on 18 May that the "UK Financial Conduct Authority required a review of Plus500's anti-money laundering financial sanction systems… prohibiting all transactions for existing customers until additional AML procedures have been completed" (source: Playtech's press release today). This significantly impacted Plus500's share price and the business, with its management today indicating revenues are expected to be below 2014's levels "with margins expected to be significantly lower" as, according to the company's release today, "recent events and associated publicity have meant that Plus500 has become the subject of increased scrutiny and has received additional requests for information from its regulators". BE In 2014, Plus500's revenues were $229m/£139m, EBITDA $145m/£88m and EPS 89c/54p. At its recent AGM on 27 May, Plus500 revealed Q1 sales of $82m and that through the end of May it had added a further $26m, putting year-to-date revenues ahead of H1 14's level, but since the FCA inquiry c$4m of revenues had been lost. It said at the AGM it expected it would take another month to re-approve existing customers' documentation and modify the process for onboarding new customers. It had $92m of cash at the AGM date, meaning the acquisition price represents a c£400m EV, or 4.5x trailing EBITDA, although this year's profits should be much lower. BE Given Plus500 only announced the regulatory issues two weeks ago, it seems to us that the deal has been concluded in seemingly record time. We believe Playtech's management will likely feel that its own experience of operating a multi-jurisdictional regulated business will allow it to resolve Plus500's regulatory issues as fast as possible. However, investors are likely to be nervous, especially given the pace at which the deal has been concluded and given that Plus500's management appears willing to take a price almost half of where the shares were a month ago. BE Nothing from Liberum yet, sadly. BE Here's Daniel Stewart instead. BE Plus500 today announced that they have reached an agreement with Playtech regarding the terms of a recommended cash acquisition through which the entire issued ordinary share capital of Plus500 will be acquired by Playtech. The recent suspension of Plus500 shares and freezing of customer accounts whilst anti-money laundering procedures were tightened was enough to question the sustainability of the Plus500 business model. Playtech’s expertise in operating in multi-jurisdictional regulated markets will go some way towards alleviating such fears. Furthermore, we believe the acquisition makes strategic sense for Playtech, which recently acquired TradeFX, an online CFD, binary options broker and trading platform provider, and enhances its offering within the online trading market. The offer of 400p per share, represents a c.8% premium to Friday’s closing share price of 370p, valuing Plus500 at £459.6m. The acquisition is expected to be immediately earnings enhancing, with completion set for September 2015. BE Which says nearly nothing, as per.
Plus500 share price data is direct from the London Stock Exchange
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