Maxim Group analyst Allen Klee maintained a Buy rating on Pitney Bowes (NYSE: PBI) today and set a price target of $12. The company’s shares closed yesterday at $8.62, close to its 52-week low of $8.11.
Klee wrote:
“We model 2Q18 revenue of $846.5 million, up 16% year-over-year and roughly in line with consensus of $845.4 million. Better revenue growth is primarily the result of the contribution from the Newgistics acquisition, which provides package delivery and returns.”
According to TipRanks.com, Klee is a 2-star analyst with an average return of 4.5% and a 61.5% success rate. Klee covers the Technology sector, focusing on stocks such as Stampscom, Agilysys, and Rignet.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pitney Bowes with a $14 average price target.
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Pitney Bowes’ market cap is currently $1.61B and has a P/E ratio of 6.48. The company has a Price to Book ratio of 7.52.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PBI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Pitney Bowes, Inc. is a technology company which engages in the provision of products and solutions in the commerce industry. It offers information management, location intelligence, and customer engagement products and solutions and also provides shipping, mailing, fulfillment, returns and cross-border ecommerce products and solutions that enable the sending of parcels and packages across the globe. The company operates through the following segments: Small and Medium Business Solutions, Enterprise Business Solutions, and Digital Commerce Solutions. The Small and Medium Business Solutions segment provides equipment, software, supplies, and services that enable its customers to efficiently create physical and digital mail and evidence postage for the sending of mail, flats and parcels. The Enterprise Business Solutions segment includes equipment and services that enable large enterprises to process inbound and outbound mail. It includes the production mail operations and presort services operations. The Digital Commerce Solutions offers customer information management, location intelligence and customer engagement software, and shipping management and cross border ecommerce solutions for businesses of all sizes. Its solutions are delivered as traditional software licenses, enterprise platforms, software-as-a-service, and on-demand applications. Pitney Bowes was founded by Arthur H. Pitney and Walter Bowes on April 23, 1920 and is headquartered in Stamford, CT.
