Stamps.com Inc. (STMP) Trading Up 5.3%
Stamps.com Inc. (NASDAQ:STMP)’s share price was up 5.3% during mid-day trading on Tuesday . The stock traded as high as $93.50 and last traded at $93.00, with a volume of 780,896 shares changing hands. The stock had previously closed at $88.30.
Several equities analysts recently issued reports on STMP shares. Zacks Investment Research raised Stamps.com from a “hold” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, July 13th. Craig Hallum reissued a “buy” rating on shares of Stamps.com in a research report on Tuesday, July 12th. Roth Capital reissued a “buy” rating and issued a $96.00 target price on shares of Stamps.com in a research report on Thursday, July 28th. Finally, B. Riley reissued a “buy” rating and issued a $160.00 target price on shares of Stamps.com in a research report on Sunday, August 14th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $110.67.
The firm has a 50 day moving average of $81.54 and a 200 day moving average of $91.65. The company has a market cap of $1.62 billion and a P/E ratio of 47.51.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.68. The firm had revenue of $84.01 million for the quarter, compared to analysts’ expectations of $73.49 million. During the same period last year, the firm posted $0.97 earnings per share. Stamps.com’s revenue for the quarter was up 73.7% on a year-over-year basis. On average, analysts anticipate that Stamps.com Inc. will post $7.21 earnings per share for the current fiscal year.
In other news, insider James Bortnak sold 5,000 shares of Stamps.com stock in a transaction on Monday, July 25th. The shares were sold at an average price of $78.99, for a total transaction of $394,950.00. Following the completion of the sale, the insider now directly owns 6,093 shares of the company’s stock, valued at approximately $481,286.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Other large investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Stamps.com by 11.7% in the fourth quarter. US Bancorp DE now owns 13,136 shares of the company’s stock valued at $1,439,000 after buying an additional 1,373 shares during the period. Principal Financial Group Inc. boosted its stake in Stamps.com by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 101,921 shares of the company’s stock valued at $11,171,000 after buying an additional 4,711 shares during the period. Finally, Employees Retirement System of Texas purchased a new stake in Stamps.com during the fourth quarter valued at about $1,973,000.
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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