Stamps.com (NASDAQ:STMP) Sees Strong Trading Volume Following Analyst Upgrade

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Stamps.com Inc. (NASDAQ:STMP) saw unusually-high trading volume on Tuesday after Craig Hallum raised their price target on the stock from $60.00 to $100.00. Craig Hallum currently has a buy rating on the stock. Approximately 2,326,820 shares were traded during trading, an increase of 172% from the previous session’s volume of 856,975 shares.The stock last traded at $90.68 and had previously closed at $76.13.

A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Stamps.com from a “sell” rating to a “hold” rating and set a $64.00 price objective on the stock in a research report on Friday, August 9th. Maxim Group reaffirmed a “hold” rating on shares of Stamps.com in a research report on Friday, August 9th. B. Riley boosted their price objective on shares of Stamps.com from $62.50 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday. Roth Capital boosted their target price on shares of Stamps.com from $52.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, ValuEngine raised shares of Stamps.com from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.00.

Hedge funds have recently bought and sold shares of the business. Advisor Group Inc. grew its position in Stamps.com by 405.7% in the second quarter. Advisor Group Inc. now owns 1,674 shares of the software maker’s stock worth $76,000 after acquiring an additional 1,343 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Stamps.com by 37.0% in the second quarter. Riverhead Capital Management LLC now owns 1,851 shares of the software maker’s stock worth $84,000 after buying an additional 500 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Stamps.com by 55.1% in the second quarter. Advisory Services Network LLC now owns 1,970 shares of the software maker’s stock worth $89,000 after buying an additional 700 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of Stamps.com by 32.1% in the second quarter. Meridian Wealth Management LLC now owns 2,058 shares of the software maker’s stock worth $93,000 after buying an additional 500 shares during the last quarter. Finally, First Quadrant L P CA lifted its stake in shares of Stamps.com by 3,036.2% in the second quarter. First Quadrant L P CA now owns 2,164 shares of the software maker’s stock worth $98,000 after buying an additional 2,095 shares during the last quarter. 99.68% of the stock is owned by institutional investors.

The stock’s 50 day moving average price is $73.70 and its two-hundred day moving average price is $59.21. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.87 and a beta of 1.13.

Stamps.com (NASDAQ:STMP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.68. Stamps.com had a net margin of 17.98% and a return on equity of 21.69%. The business had revenue of $138.77 million during the quarter, compared to analysts’ expectations of $128.35 million. During the same period in the previous year, the company earned $2.75 earnings per share. Stamps.com’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that Stamps.com Inc. will post 2.7 EPS for the current fiscal year.

About Stamps.com (NASDAQ:STMP)

Stamps.com Inc provides Internet-based mailing and shipping solutions in the United States and Europe. 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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