Planet Payment Making Some Big Noise After Getting A Shout-Out From Louis Navellier

Shares of Planet Payment Inc (NASDAQ: PLPM), a small-cap provider of international payment and transaction processing and multi-currency processing services, spiked higher by more than 13 percent on Wednesday.

The stock was added to Louis Navellier's "Navellier's Ultimate Growth Buy List," a list of companies that are "elite stocks with extraordinary fundamentals and high quantitative scores."

Navellier manages approximately $2.5 billion in assets and serves as chairman and founder of Navellier & Associates and also writes several investment newsletters.

Related Link: Ladenburg Thalmann Initiates Coverage On Planet Payment At Buy

Planet Payment's stock has a forward P/E multiple of 22.2, which is lower than the S&P's average of 25.12. Shares of Planet Payment traded as high as $4.68 on Wednesday before closing the day at $4.53, up 13.53 percent on the day.

The stock also traded within one cent of its 52-week high of $4.69 on Wednesday and is now higher by nearly 50 percent since the start of 2016 and more than 90 percent higher over the past year.

At time of writing, Planet Payment was down 0.22 percent in Thursday's pre-market session, trading at $4.52.

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