Pitney Bowes (NYSE:PBI) Coverage Initiated by Analysts at Bank of America

Equities research analysts at Bank of America began coverage on shares of Pitney Bowes (NYSE:PBI) in a note issued to investors on Tuesday. The brokerage set an “underperform” rating and a $9.00 price target on the technology company’s stock. Bank of America‘s target price would indicate a potential downside of 12.32% from the stock’s previous close.

A number of other research firms also recently commented on PBI. Citizens Jmp initiated coverage on Pitney Bowes in a research report on Wednesday, December 3rd. They set a “market outperform” rating and a $13.00 target price on the stock. The Goldman Sachs Group initiated coverage on Pitney Bowes in a research note on Monday, November 3rd. They set a “neutral” rating and a $11.00 price target on the stock. JMP Securities set a $13.00 price target on shares of Pitney Bowes in a research report on Wednesday, December 3rd. Truist Financial began coverage on Pitney Bowes in a research note on Friday, December 12th. They set a “hold” rating and a $11.00 price target for the company. Finally, Citigroup assumed coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.40.

Pitney Bowes Price Performance

NYSE PBI opened at $10.27 on Tuesday. The firm’s fifty day moving average price is $10.42 and its 200 day moving average price is $10.76. Pitney Bowes has a 12 month low of $7.39 and a 12 month high of $13.11. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 0.48 and a beta of 1.41.

Institutional Investors Weigh In On Pitney Bowes

Several large investors have recently modified their holdings of PBI. Royal Bank of Canada increased its position in shares of Pitney Bowes by 133.1% in the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock worth $478,000 after acquiring an additional 30,238 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Pitney Bowes by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company’s stock worth $882,000 after purchasing an additional 5,149 shares in the last quarter. United Services Automobile Association acquired a new stake in Pitney Bowes during the 1st quarter valued at $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Pitney Bowes by 18.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company’s stock valued at $4,258,000 after purchasing an additional 72,437 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Pitney Bowes by 15.5% in the first quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company’s stock worth $1,768,000 after buying an additional 26,260 shares during the period. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Company Profile

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.