Stamps.com (STMP) Downgraded by BidaskClub to “Buy”
Stamps.com (NASDAQ:STMP) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday.
STMP has been the topic of a number of other reports. B. Riley restated a “buy” rating and issued a $250.00 target price on shares of Stamps.com in a research note on Friday, December 1st. Roth Capital upped their target price on shares of Stamps.com from $203.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. ValuEngine downgraded shares of Stamps.com from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Zacks Investment Research downgraded shares of Stamps.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, Northland Securities restated a “buy” rating and issued a $250.00 target price on shares of Stamps.com in a research note on Wednesday, November 22nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Stamps.com presently has an average rating of “Buy” and a consensus price target of $217.71.
Shares of Stamps.com (STMP) opened at $192.80 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.80 and a quick ratio of 2.80. Stamps.com has a 1 year low of $100.55 and a 1 year high of $233.12. The firm has a market cap of $3,370.00, a PE ratio of 25.24, a P/E/G ratio of 2.09 and a beta of -0.07.
Stamps.com declared that its board has initiated a share buyback plan on Thursday, November 2nd that allows the company to buyback $90.00 million in outstanding shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, CMO Sebastian Buerba sold 3,448 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $230.05, for a total transaction of $793,212.40. Following the transaction, the chief marketing officer now directly owns 16,871 shares in the company, valued at $3,881,173.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael John Biswas sold 29,288 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $229.22, for a total transaction of $6,713,395.36. Following the transaction, the insider now owns 695 shares in the company, valued at $159,307.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,167 shares of company stock worth $48,679,584. Insiders own 11.08% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newbrook Capital Advisors LP acquired a new stake in Stamps.com in the second quarter valued at approximately $39,979,000. Calixto Global Investors LP boosted its stake in Stamps.com by 111.5% in the second quarter. Calixto Global Investors LP now owns 379,168 shares of the software maker’s stock valued at $58,724,000 after acquiring an additional 199,869 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Stamps.com in the second quarter valued at approximately $21,793,000. Light Street Capital Management LLC boosted its stake in Stamps.com by 55.3% in the second quarter. Light Street Capital Management LLC now owns 365,000 shares of the software maker’s stock valued at $56,529,000 after acquiring an additional 130,000 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new stake in Stamps.com in the second quarter valued at approximately $18,558,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.
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Stamps.com Inc is a provider of Internet-based mailing and shipping solutions in the United States. The Company offers mailing and shipping products and services to its customers under the Stamps.com, Endicia, ShipStation, ShipWorks and ShippingEasy brands. It operates through the Internet Mailing and Shipping Services segment.
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