Pitney Bowes (NYSE:PBI) Upgraded to Strong-Buy at Zacks Research

Pitney Bowes (NYSE:PBI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

PBI has been the subject of several other reports. JMP Securities set a $13.00 price objective on Pitney Bowes in a research report on Wednesday, December 3rd. Citizens Jmp initiated coverage on Pitney Bowes in a research note on Wednesday, December 3rd. They set a “market outperform” rating and a $13.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pitney Bowes in a report on Monday. Truist Financial assumed coverage on shares of Pitney Bowes in a research note on Friday, December 12th. They issued a “hold” rating and a $11.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They set a “neutral” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Pitney Bowes Stock Down 0.4%

NYSE PBI opened at $10.66 on Monday. Pitney Bowes has a 52 week low of $6.88 and a 52 week high of $13.11. The stock has a market capitalization of $1.71 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 0.55 and a beta of 1.32. The firm has a 50 day moving average of $10.12 and a two-hundred day moving average of $10.98.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The firm had revenue of $459.68 million during the quarter, compared to analyst estimates of $467.45 million. Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. Pitney Bowes’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. On average, equities research analysts expect that Pitney Bowes will post 1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after acquiring an additional 1,015 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Pitney Bowes during the 2nd quarter worth $51,000. Canada Pension Plan Investment Board acquired a new position in Pitney Bowes in the second quarter valued at $51,000. United Services Automobile Association acquired a new position in Pitney Bowes in the first quarter valued at $96,000. Finally, Truist Financial Corp purchased a new stake in shares of Pitney Bowes in the second quarter valued at about $123,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.