Stamps.com Inc. (NASDAQ:STMP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Stamps.com provides easy, convenient and cost-effective Internet -based services for mailing or shipping letters, packages or parcels anywhere in the United States and at anytime. Their core mailing and shipping services are designed to allow individual consumers or employees of small businesses or larger enterprises to select a carrier, print US postage or shipping labels from multiple carriers, schedule a pick-up, track a package and apply enterprise-wide business rules to manage and account for mailing and shipping costs. “
Several other equities analysts also recently weighed in on STMP. B. Riley reissued a “buy” rating and set a $150.00 price target on shares of Stamps.com in a research report on Friday, June 10th. Craig Hallum restated a “buy” rating on shares of Stamps.com in a report on Tuesday, July 12th. Finally, Roth Capital restated a “buy” rating and set a $96.00 price objective on shares of Stamps.com in a report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $110.67.
Shares of Stamps.com (NASDAQ:STMP) opened at 94.89 on Thursday. The stock has a 50 day moving average price of $91.90 and a 200-day moving average price of $89.99. Stamps.com has a 52-week low of $68.82 and a 52-week high of $123.75. The stock has a market capitalization of $1.64 billion, a PE ratio of 48.05 and a beta of 0.97.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.68. The company earned $84.01 million during the quarter, compared to the consensus estimate of $73.49 million. Stamps.com had a return on equity of 27.94% and a net margin of 12.09%. Stamps.com’s revenue was up 73.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. On average, equities research analysts anticipate that Stamps.com will post $7.11 EPS for the current fiscal year.
In related news, insider James Bortnak sold 5,000 shares of Stamps.com stock in a transaction on Monday, July 25th. The stock was sold at an average price of $78.99, for a total value of $394,950.00. Following the transaction, the insider now owns 6,093 shares in the company, valued at $481,286.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.46% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new position in shares of Stamps.com during the second quarter worth $3,523,000. Mason Street Advisors LLC purchased a new position in shares of Stamps.com during the second quarter worth $268,000. Royal Bank of Canada boosted its position in shares of Stamps.com by 14.2% in the second quarter. Royal Bank of Canada now owns 14,196 shares of the company’s stock worth $1,241,000 after buying an additional 1,764 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Stamps.com during the second quarter worth $5,280,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Stamps.com by 7.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 55,409 shares of the company’s stock worth $4,844,000 after buying an additional 3,904 shares during the last quarter. Hedge funds and other institutional investors own 97.07% of the company’s stock.
Stamps.com Company Profile
Stamps.com Inc is a provider of Internet-based mailing and shipping solutions. The Company operates through the Internet Mailing and Shipping Services segment. Under the Stamps.com and Endicia branded solutions, the Company’s customers use its service to mail and ship a range of mail pieces, including postcards, envelopes, flats and packages, using a range of United States Postal Service (USPS) mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, and Parcel Select, and among others.
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