In a report released today, Allen Klee from Maxim Group maintained a Buy rating on Pitney Bowes (PBI), with a price target of $9. The company’s shares opened today at $6.25, close to its 52-week low of $5.51.
Klee noted:
“$0.12 missed our estimate of $0.21. Revenue of $868.4M declined 1.4% y/y, roughly in line with our estimates.”
According to TipRanks.com, Klee ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.6% and a 36.3% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pitney Bowes with a $10.33 average price target.
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The company has a one-year high of $10.25 and a one-year low of $5.51. Currently, Pitney Bowes has an average volume of 4.04M.
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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.
