Stamps.com Stock Price Down 8.8% After Earnings Miss (STMP)
Stamps.com (NASDAQ:STMP) shares fell 8.8% during trading on Thursday after the company announced weaker than expected quarterly earnings, American Banking and Market News reports. The company traded as low as $31.27 and last traded at $31.46, with a volume of 119,417 shares traded. The stock had previously closed at $34.50.
The company reported $0.55 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.58 by $0.03. The company had revenue of $34.30 million for the quarter, compared to the consensus estimate of $33.16 million. During the same quarter last year, the company posted $0.60 earnings per share. Stamps.com’s revenue was up 6.9% compared to the same quarter last year.
A number of research firms have recently commented on STMP. Analysts at Zacks upgraded shares of Stamps.com from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $34.50 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $43.15.
The stock’s 50-day moving average is $34.3 and its 200-day moving average is $34.59. The company has a market cap of $511.8 million and a P/E ratio of 13.01.
Stamps.com Inc is a provider of Internet-based postage solutions. The Company’s customers use its service to mail and ship a variety of mail pieces, including postcards, envelopes, flats and packages, using a range of United States Postal Service (NASDAQ:STMP) mail classes, including First Class Mail, Priority Mail, Express Mail, Media Mail, Parcel Post, and others.
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