Stamps.com (STMP) Stock Rating Reaffirmed by Craig Hallum
Craig Hallum reaffirmed their buy rating on shares of Stamps.com (NASDAQ:STMP) in a research report report published on Thursday morning. Craig Hallum currently has a $215.00 price target on the software maker’s stock, down from their previous price target of $230.00.
A number of other research firms also recently weighed in on STMP. Roth Capital lifted their target price on Stamps.com from $203.00 to $245.00 and gave the stock a buy rating in a report on Monday, October 30th. BidaskClub raised Stamps.com from a buy rating to a strong-buy rating in a report on Tuesday, January 30th. B. Riley lifted their target price on Stamps.com from $250.00 to $275.00 and gave the stock a buy rating in a report on Thursday. Northland Securities reissued a buy rating and set a $250.00 target price on shares of Stamps.com in a report on Wednesday, November 22nd. Finally, ValuEngine cut Stamps.com from a buy rating to a hold rating in a research report on Monday, November 20th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Stamps.com currently has an average rating of Buy and an average target price of $228.86.
Stamps.com (NASDAQ:STMP) traded up $20.35 on Thursday, hitting $205.30. The stock had a trading volume of 1,430,400 shares, compared to its average volume of 412,644. Stamps.com has a 12 month low of $100.55 and a 12 month high of $233.13. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3,590.00, a P/E ratio of 25.10, a P/E/G ratio of 2.06 and a beta of -0.05.
Stamps.com declared that its Board of Directors has approved a share buyback program on Thursday, November 2nd that authorizes the company to repurchase $90.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, CEO Kenneth Thomas Mcbride sold 142,133 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $180.02, for a total value of $25,586,782.66. Following the transaction, the chief executive officer now owns 73,599 shares in the company, valued at $13,249,291.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew A. Lipson sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $187.37, for a total value of $1,873,700.00. Following the completion of the transaction, the insider now owns 11,931 shares in the company, valued at approximately $2,235,511.47. The disclosure for this sale can be found here. Insiders sold 175,674 shares of company stock worth $31,850,230 in the last 90 days. 11.46% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC grew its position in Stamps.com by 9.6% in the third quarter. Fisher Asset Management LLC now owns 35,142 shares of the software maker’s stock valued at $7,122,000 after acquiring an additional 3,064 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in Stamps.com by 58.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,910 shares of the software maker’s stock valued at $1,198,000 after acquiring an additional 2,190 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Stamps.com in the third quarter valued at about $940,000. Jennison Associates LLC bought a new position in Stamps.com in the third quarter valued at about $782,000. Finally, Wells Fargo & Company MN grew its position in Stamps.com by 20.6% in the third quarter. Wells Fargo & Company MN now owns 25,704 shares of the software maker’s stock valued at $5,209,000 after acquiring an additional 4,396 shares during the last quarter. Hedge funds and other institutional investors own 98.94% of the company’s stock.
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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