Pitney Bowes (NYSE:PBI) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Key Points

• Citizens JMP raised its price target on Pitney Bowes to $19 from $17 and kept an “market outperform” rating, implying about 13% upside from the prior close.
• Other analysts have also turned more positive on the stock, with multiple upgrades and a consensus rating of Moderate Buy and an average price target of $16.43.
• Pitney Bowes recently reported quarterly EPS of $0.47, matching estimates, while revenue of $477.4 million topped expectations but was still down 3.2% year over year.

Pitney Bowes (NYSE:PBI - Get Free Report) had its price target increased by investment analysts at Citizens Jmp from $17.00 to $19.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the technology company's stock. Citizens Jmp's price target would indicate a potential upside of 13.27% from the stock's previous close.

Several other research firms have also weighed in on PBI. Bank of America upgraded shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $9.50 to $16.50 in a report on Monday, May 11th. The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a research report on Friday, May 8th. Zacks Research upgraded Pitney Bowes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Finally, Citigroup reissued an "outperform" rating on shares of Pitney Bowes in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $16.43.

Pitney Bowes Stock Performance

Shares of NYSE:PBI opened at $16.77 on Friday. The stock has a 50-day simple moving average of $14.08 and a 200-day simple moving average of $11.64. The stock has a market capitalization of $2.27 billion, a P/E ratio of 16.29, a PEG ratio of 0.74 and a beta of 1.63. Pitney Bowes has a 1 year low of $8.95 and a 1 year high of $17.08.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. During the same quarter last year, the firm posted $0.33 earnings per share. Pitney Bowes's revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts predict that Pitney Bowes will post 1.62 earnings per share for the current year.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal bought 4,000 shares of Pitney Bowes stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $10.22 per share, for a total transaction of $40,880.00. Following the purchase, the director owned 9,000 shares in the company, valued at $91,980. This represents a 80.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah Pfeiffer sold 18,750 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total transaction of $301,125.00. Following the sale, the executive vice president directly owned 97,828 shares of the company's stock, valued at $1,571,117.68. The trade was a 16.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,365,280 shares of company stock worth $34,252,541 in the last 90 days. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Pitney Bowes

Institutional investors have recently added to or reduced their stakes in the stock. Longview Financial Advisors Inc. acquired a new position in Pitney Bowes during the 1st quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in shares of Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after purchasing an additional 1,015 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Pitney Bowes by 190.9% in the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock valued at $40,000 after purchasing an additional 2,459 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Pitney Bowes by 404.6% during the fourth quarter. UMB Bank n.a. now owns 4,022 shares of the technology company's stock worth $43,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Pitney Bowes during the second quarter worth about $51,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Company Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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