Zacks Investment Research Downgrades Stamps.com Inc. (STMP) to Hold
Stamps.com Inc. (NASDAQ:STMP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
A number of other equities research analysts have also weighed in on the stock. ValuEngine upgraded shares of Stamps.com from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Craig Hallum set a $230.00 price objective on shares of Stamps.com and gave the company a “buy” rating in a report on Friday, August 25th. Roth Capital lifted their price objective on shares of Stamps.com from $166.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Northland Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Stamps.com in a report on Thursday, September 14th. Finally, Sidoti reiterated a “buy” rating and set a $182.00 price objective on shares of Stamps.com in a report on Thursday, July 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $204.57.
Stamps.com (NASDAQ:STMP) traded up 0.56% during trading on Wednesday, reaching $216.95. 236,903 shares of the company were exchanged. Stamps.com has a 1-year low of $89.26 and a 1-year high of $220.25. The company’s 50-day moving average price is $201.62 and its 200-day moving average price is $153.39. The stock has a market capitalization of $3.67 billion, a P/E ratio of 35.09 and a beta of -0.04.
Stamps.com (NASDAQ:STMP) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.36. Stamps.com had a net margin of 26.66% and a return on equity of 34.46%. The company had revenue of $116.14 million during the quarter, compared to analyst estimates of $99.29 million. During the same quarter last year, the business posted $1.94 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, equities analysts forecast that Stamps.com will post $8.05 EPS for the current year.
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In other news, insider James Bortnak sold 4,000 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $151.37, for a total value of $605,480.00. Following the completion of the sale, the insider now owns 5,985 shares in the company, valued at approximately $905,949.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Seth Weisberg sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $197.45, for a total transaction of $4,936,250.00. Following the completion of the sale, the insider now owns 32,572 shares of the company’s stock, valued at approximately $6,431,341.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 451,963 shares of company stock valued at $89,292,644. Company insiders own 11.08% of the company’s stock.
Several large investors have recently bought and sold shares of the company. USA Financial Portformulas Corp bought a new stake in shares of Stamps.com in the 2nd quarter valued at about $534,000. Ashford Capital Management Inc. raised its holdings in shares of Stamps.com by 37.7% in the 2nd quarter. Ashford Capital Management Inc. now owns 104,155 shares of the software maker’s stock valued at $16,131,000 after purchasing an additional 28,530 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Stamps.com in the 2nd quarter valued at about $607,000. Piedmont Investment Advisors LLC raised its holdings in shares of Stamps.com by 12.1% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 14,047 shares of the software maker’s stock valued at $2,176,000 after purchasing an additional 1,511 shares in the last quarter. Finally, Newbrook Capital Advisors LP bought a new stake in shares of Stamps.com in the 2nd quarter valued at about $39,979,000.
Stamps.com Company Profile
Stamps.com Inc is a provider of Internet-based mailing and shipping solutions in the United States. The Company offers mailing and shipping products and services to its customers under the Stamps.com, Endicia, ShipStation, ShipWorks and ShippingEasy brands. It operates through the Internet Mailing and Shipping Services segment.
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