Plus500 upgraded to ‘buy' by Cavendish after 25% share price slide

Finance Investments And Investor Services Written by: Ephrem Joseph 11:28 Mon 17 Aug 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ephrem Joseph Ephrem began his journalistic journey at Proactive in June 2021. With a strong academic background in Information Technology, his expertise particularly lies in the field of Cyber Security, Management Information Systems and Computer Forensics. Before joining Proactive, Ephrem worked as a researcher and lecturer at a number of leading universities, including the University of Portsmouth's Institute of Criminal Justice Studies, the University of Winchester’s Institute of Policing, and Jain... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Plus500 Ltd ( LSE:PLUS ) View Price & Profile Plus500 upgraded to ‘buy’ by Cavendish after 25% share price slide Published: 11:28 17 Aug 2026 BST Plus500 Ltd (LSE:PLUS) has been upgraded to ‘buy’ from ‘hold’ by Cavendish, which said a 25% fall in the shares since the company’s July trading update has left the financial technology group undervalued. The broker set a 4,490p target price, reduced from 4,685p, representing around 21% upside from the 3,714p share price used in its valuation. Plus500 shares have fallen 11.6% over 1 month and 16.3% over 3 months, although they remained 18.8% higher over 12 months. Cavendish said the weakness came despite a strong first half and management reaffirming that Plus500 remained positioned to meet full-year expectations. The shares were trading at around 12.6 times estimated 2026 earnings, which the broker believes fails to reflect progress in expanding beyond the group’s traditional over-the-counter business. First-half revenue was $462.9 million and EBITDA was $187.5 million, while EPS of $2.10 was 1% ahead of Cavendish’s forecast. Period-end cash stood at $861 million and Plus500 announced $182.5 million of shareholder returns, including a new $100 million share buyback. Cavendish highlighted growth in Plus500’s US operations, with non-OTC revenue reaching $70 million, or 15% of group revenue, during the first half, up around 30% year on year. The broker raised its 2026 revenue forecast by 3.2% but cut its EPS estimate by 1.3%, reflecting higher variable costs and the stronger Israeli shekel. It expects total shareholder returns of about $352 million in 2026. Continue reading