Stamps (STMP) received a Buy rating and a $245.00 price target from Northland Securities analyst Nehal Chokshi today. The company’s shares closed last Friday at $174.97, close to its 52-week low of $159.22.
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 21.8% and a 62.4% success rate. Chokshi covers the Technology sector, focusing on stocks such as Super Micro Computer, Palo Alto Networks, and Avid Technology.
Currently, the analyst consensus on Stamps is a Strong Buy with an average price target of $321.00, implying a 90.0% upside from current levels. In a report issued on May 7, Maxim Group also maintained a Buy rating on the stock with a $378.00 price target.
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Based on Stamps’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $189 million and net profit of $34.24 million. In comparison, last year the company earned revenue of $151 million and had a net profit of $16.49 million.
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Stamps.com, Inc. engages in the provision of Internet-based mailing and shipping solutions. It enables small businesses, enterprises, and online retailers to print U.S. Postal Service-approved postage. It operates under following segments: Stamps.com and MetaPack. The Stamps.com segment derives revenue from external customers from offering postage online and shipping software solutions offered to consumers, small businesses, e-commerce shippers, enterprise mailers, and high volume shippers. The MetaPack segment consists of the operations of MetaPack which derives revenues from external customers from offering multi-carrier enterprise-level shipping software solutions to large e-commerce retailers and brands. The company was founded by James Alastair Campbell McDermott, Jeff Green and Air R. Engelberg in September 1996 and is headquartered in El Segundo, CA.