BidaskClub Downgrades Stamps.com (STMP) to Buy

Stamps.com (NASDAQ:STMP) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. Roth Capital upped their price target on Stamps.com from $203.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Northland Securities restated a “buy” rating and set a $250.00 price target on shares of Stamps.com in a research note on Thursday, October 12th. B. Riley set a $250.00 price target on Stamps.com and gave the stock a “buy” rating in a research note on Thursday, October 5th. ValuEngine cut Stamps.com from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Finally, Zacks Investment Research cut Stamps.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Stamps.com has a consensus rating of “Buy” and an average target price of $217.71.

Shares of Stamps.com (NASDAQ:STMP) traded up $1.05 during midday trading on Friday, reaching $192.80. The company’s stock had a trading volume of 662,158 shares, compared to its average volume of 338,134. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.80 and a current ratio of 2.80. Stamps.com has a one year low of $100.55 and a one year high of $233.12. The stock has a market capitalization of $3,370.00, a PE ratio of 25.24, a P/E/G ratio of 2.13 and a beta of -0.07.

Stamps.com announced that its board has approved a stock buyback program on Thursday, November 2nd that authorizes the company to buyback $90.00 million in shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In related news, CFO Jeffrey Carberry sold 59,583 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $225.01, for a total transaction of $13,406,770.83. Following the transaction, the chief financial officer now owns 14,016 shares of the company’s stock, valued at $3,153,740.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Sebastian Buerba sold 3,448 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $230.05, for a total value of $793,212.40. Following the transaction, the chief marketing officer now directly owns 16,871 shares in the company, valued at approximately $3,881,173.55. The disclosure for this sale can be found here. Insiders have sold 246,167 shares of company stock valued at $48,679,584 in the last 90 days. Company insiders own 11.46% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC grew its holdings in Stamps.com by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 666 shares of the software maker’s stock worth $103,000 after acquiring an additional 266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Stamps.com by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 883 shares of the software maker’s stock worth $137,000 after acquiring an additional 92 shares during the period. Marble Harbor Investment Counsel LLC acquired a new position in Stamps.com during the third quarter worth $203,000. Raymond James Financial Services Advisors Inc. acquired a new position in Stamps.com during the third quarter worth $209,000. Finally, Victory Capital Management Inc. grew its holdings in Stamps.com by 17.7% during the second quarter. Victory Capital Management Inc. now owns 1,038 shares of the software maker’s stock worth $161,000 after acquiring an additional 156 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Stamps.com (NASDAQ:STMP)

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