Zacks Investment Research upgraded shares of Stamps.com (NASDAQ:STMP) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $204.00 price target on the software maker’s stock.
According to Zacks, “Stamps.com is a leading provider of Internet-based postage services. Stamps.com’s service for postage online enables small businesses, enterprises, and consumers to print U.S. Postal Service-approved postage with just a PC, printer and Internet connection, right from their home or office. The Company targets its services to small businesses and home offices, and currently has PC Postage partnerships with Microsoft, EarthLink, HP, NCR, Office Depot, the U.S. Postal Service and others. Stamps.com provides easy, convenient and cost-effective Internet-based services for mailing or shipping letters, packages or parcels. Their PC Postage service is designed to allow individuals, home offices, small businesses or corporations to print US postage using any PC, any ordinary inkjet or laser printer, and an Internet connection. Its PhotoStamps product allows consumers and businesses to turn digital photos, designs or corporate logos into valid US postage. “
A number of other equities research analysts also recently issued reports on STMP. BidaskClub downgraded shares of Stamps.com from a sell rating to a strong sell rating in a research report on Tuesday. ValuEngine downgraded shares of Stamps.com from a hold rating to a sell rating in a research report on Thursday, November 1st. Craig Hallum reduced their price target on shares of Stamps.com from $300.00 to $265.00 and set a buy rating for the company in a research report on Thursday, November 1st. Maxim Group set a $320.00 price target on shares of Stamps.com and gave the company a buy rating in a research report on Friday, July 27th. Finally, B. Riley set a $300.00 price target on shares of Stamps.com and gave the company a buy rating in a research report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $250.25.
Stamps.com (NASDAQ:STMP) last posted its quarterly earnings results on Wednesday, October 31st. The software maker reported $2.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.38. Stamps.com had a net margin of 30.26% and a return on equity of 35.93%. The company had revenue of $143.51 million during the quarter, compared to the consensus estimate of $135.00 million. During the same period last year, the firm earned $2.68 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Sell-side analysts forecast that Stamps.com will post 9.79 earnings per share for the current fiscal year.
In related news, insider Amine Khechfe sold 1,200 shares of Stamps.com stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $226.66, for a total transaction of $271,992.00. Following the completion of the transaction, the insider now directly owns 1,541 shares in the company, valued at approximately $349,283.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Sebastian Buerba sold 2,499 shares of Stamps.com stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $249.71, for a total value of $624,025.29. Following the transaction, the chief marketing officer now owns 719 shares of the company’s stock, valued at $179,541.49. The disclosure for this sale can be found here. Insiders have sold a total of 8,600 shares of company stock valued at $1,973,733 over the last 90 days. Insiders own 6.17% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Trexquant Investment LP acquired a new position in shares of Stamps.com during the 3rd quarter worth approximately $2,299,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Stamps.com by 77.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,792 shares of the software maker’s stock worth $405,000 after purchasing an additional 780 shares during the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Stamps.com during the 3rd quarter worth approximately $295,000. American International Group Inc. raised its position in shares of Stamps.com by 3.4% during the 3rd quarter. American International Group Inc. now owns 13,746 shares of the software maker’s stock worth $3,109,000 after purchasing an additional 452 shares during the last quarter. Finally, BBT Capital Management LLC purchased a new stake in Stamps.com in the 3rd quarter worth approximately $1,082,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.
Stamps.com Company Profile
Stamps.com Inc provides Internet-based mailing and shipping solutions in the United States. The company offers mailing and shipping solutions to mail and ship various mail pieces and packages through the United States Postal Service (USPS) under the Stamps.com and Endicia brands. Its solutions support various USPS mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, Parcel Select, and others.
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