Maxim Group analyst Allen Klee maintained a Buy rating on Pitney Bowes (PBI) yesterday and set a price target of $7. The company’s shares closed yesterday at $3.95, close to its 52-week low of $3.41.
Klee noted:
“In 2Q19 results due Tuesday, August 6, we forecast revenue of $883.6M, up 2% y/y and adjusted EPS of $0.19, down from $0.28 y/y, but $0.01 above consensus.”
According to TipRanks.com, Klee has currently no stars on a ranking scale of 0-5 stars, with an average return of -14.7% and a 30.8% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.
Pitney Bowes has an analyst consensus of Moderate Buy, with a price target consensus of $8.50.
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Based on Pitney Bowes’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.99 million. In comparison, last year the company had a net profit of $48.21 million.
Based on the recent corporate insider activity of 27 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.
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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.
