Stamps.com Inc. (STMP) Shares Up 4.5%
Stamps.com Inc. (NASDAQ:STMP) shot up 4.5% during mid-day trading on Friday . The company traded as high as $76.39 and last traded at $76.03, with a volume of 924,504 shares trading hands. The stock had previously closed at $72.73.
A number of research firms recently issued reports on STMP. B. Riley reissued a “buy” rating and issued a $150.00 price target on shares of Stamps.com in a research note on Wednesday, June 15th. Zacks Investment Research cut shares of Stamps.com from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Finally, Craig Hallum reissued a “buy” rating on shares of Stamps.com in a research note on Tuesday, July 12th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $111.60.
The firm has a market cap of $1.35 billion and a P/E ratio of 132.76. The stock has a 50 day moving average of $85.24 and a 200 day moving average of $93.77.
Stamps.com (NASDAQ:STMP) last issued its quarterly earnings results on Monday, May 9th. The company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.66. The company earned $81.80 million during the quarter, compared to the consensus estimate of $68.73 million. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. Equities analysts forecast that Stamps.com Inc. will post $6.02 earnings per share for the current year.
In related news, insider James Bortnak sold 5,000 shares of Stamps.com stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $83.97, for a total value of $419,850.00. Following the completion of the sale, the insider now owns 6,093 shares in the company, valued at $511,629.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Other institutional investors have added to or reduced their stakes in the company. Employees Retirement System of Texas acquired a new position in Stamps.com during the fourth quarter worth approximately $1,973,000. Matarin Capital Management LLC acquired a new position in Stamps.com during the fourth quarter worth approximately $6,458,000. Redwood Investments LLC increased its position in Stamps.com by 49.3% in the fourth quarter. Redwood Investments LLC now owns 17,053 shares of the company’s stock worth $1,869,000 after buying an additional 5,629 shares in the last quarter. US Bancorp DE increased its position in Stamps.com by 11.7% in the fourth quarter. US Bancorp DE now owns 13,136 shares of the company’s stock worth $1,439,000 after buying an additional 1,373 shares in the last quarter. Finally, Suntrust Banks Inc. increased its position in Stamps.com by 22.9% in the fourth quarter. Suntrust Banks Inc. now owns 14,856 shares of the company’s stock worth $1,627,000 after buying an additional 2,767 shares in the last quarter.
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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