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 to investors 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. “
A number of other equities research analysts have also weighed in on the company. Craig Hallum restated a “buy” rating on shares of Stamps.com in a research note on Tuesday, July 12th. Roth Capital reaffirmed a “buy” rating and set a $96.00 target price on shares of Stamps.com in a report on Thursday, July 28th. Finally, B. Riley reaffirmed a “buy” rating and set a $160.00 target price on shares of Stamps.com in a report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $110.67.
Stamps.com (NASDAQ:STMP) opened at 94.51 on Thursday. The company’s 50-day moving average price is $92.43 and its 200-day moving average price is $89.89. Stamps.com has a one year low of $68.82 and a one year high of $123.75. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 47.85 and a beta of 1.10.
Stamps.com (NASDAQ:STMP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.68. Stamps.com had a return on equity of 27.94% and a net margin of 12.09%. The firm earned $84.01 million during the quarter, compared to analyst estimates of $73.49 million. During the same quarter last year, the firm earned $0.97 EPS. Stamps.com’s quarterly revenue was up 73.7% on a year-over-year basis. On average, analysts anticipate that Stamps.com will post $7.11 EPS for the current year.
In related news, insider James Bortnak sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $93.75, for a total value of $468,750.00. Following the sale, the insider now owns 6,093 shares of the company’s stock, valued at approximately $571,218.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.46% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. acquired a new stake in shares of Stamps.com during the second quarter valued at $3,523,000. Mason Street Advisors LLC bought a new position in shares of Stamps.com during the second quarter worth about $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 bought a new position in shares of Stamps.com during the second quarter worth about $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. 97.07% of the stock is currently owned by institutional investors and hedge funds.
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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