Stamps.com (STMP) Upgraded by Zacks Investment Research to Strong-Buy

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Stamps.com (NASDAQ:STMP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The firm currently has a $204.00 target price on the software maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 20.57% from the company’s current price.

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. “

Other equities research analysts have also issued reports about the stock. Craig Hallum lowered their price target on shares of Stamps.com from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. BidaskClub lowered shares of Stamps.com from a “sell” rating to a “strong sell” rating in a research note on Tuesday. B. Riley set a $300.00 price target on shares of Stamps.com and gave the company a “buy” rating in a research note on Thursday, October 18th. ValuEngine lowered shares of Stamps.com from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Maxim Group set a $320.00 price target on shares of Stamps.com and gave the company a “buy” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $250.25.

Shares of NASDAQ:STMP traded down $0.24 during midday trading on Wednesday, reaching $169.19. 1,998 shares of the company were exchanged, compared to its average volume of 520,818. Stamps.com has a fifty-two week low of $160.00 and a fifty-two week high of $285.74. The company has a quick ratio of 3.38, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.21 and a beta of 0.23.

Stamps.com (NASDAQ:STMP) last issued its quarterly earnings data on Wednesday, October 31st. The software maker reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.38. Stamps.com had a net margin of 30.26% and a return on equity of 35.93%. The business had revenue of $143.51 million for the quarter, compared to analyst estimates of $135.00 million. During the same period last year, the business posted $2.68 earnings per share. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. Research analysts expect that Stamps.com will post 9.79 earnings per share for the current fiscal year.

In other news, insider Amine Khechfe sold 1,200 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $248.15, for a total transaction of $297,780.00. Following the transaction, the insider now directly owns 1,541 shares in the company, valued at approximately $382,399.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Sebastian Buerba sold 2,499 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $249.71, for a total transaction of $624,025.29. Following the transaction, the chief marketing officer now owns 719 shares in the company, valued at $179,541.49. The disclosure for this sale can be found here. Insiders sold a total of 8,600 shares of company stock worth $1,973,733 over the last quarter. Company insiders own 6.17% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in STMP. Morgan Stanley increased its stake in shares of Stamps.com by 446.0% during the 2nd quarter. Morgan Stanley now owns 495,645 shares of the software maker’s stock worth $125,424,000 after purchasing an additional 404,861 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Stamps.com by 11.3% during the 2nd quarter. BlackRock Inc. now owns 2,518,796 shares of the software maker’s stock worth $637,381,000 after buying an additional 255,512 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Stamps.com by 69.8% during the 2nd quarter. Renaissance Technologies LLC now owns 357,600 shares of the software maker’s stock worth $90,491,000 after buying an additional 147,000 shares during the period. Jennison Associates LLC boosted its holdings in shares of Stamps.com by 2,108.4% during the 2nd quarter. Jennison Associates LLC now owns 90,082 shares of the software maker’s stock worth $22,795,000 after buying an additional 86,003 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Stamps.com by 16.1% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 383,078 shares of the software maker’s stock worth $86,652,000 after buying an additional 53,051 shares during the period. 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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