Pitney Bowes (NYSE:PBI) Shares Gap Up – Still a Buy?

Pitney Bowes Inc. (NYSE:PBI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $8.05, but opened at $8.78. Pitney Bowes shares last traded at $8.21, with a volume of 538,283 shares.

Analysts Set New Price Targets

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

Pitney Bowes Price Performance

The firm has a market cap of $1.42 billion, a PE ratio of -5.37, a PEG ratio of 1.42 and a beta of 1.97. The business has a 50-day moving average price of $7.02 and a two-hundred day moving average price of $6.21.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.10. The firm had revenue of $793.17 million during the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. Equities analysts expect that Pitney Bowes Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Pitney Bowes

Large investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in shares of Pitney Bowes during the 2nd quarter worth approximately $48,000. Point72 DIFC Ltd raised its holdings in shares of Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after acquiring an additional 7,819 shares during the last quarter. William Howard & Co Financial Advisors Inc purchased a new stake in shares of Pitney Bowes in the first quarter valued at $52,000. SageView Advisory Group LLC acquired a new stake in shares of Pitney Bowes during the first quarter valued at $57,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in Pitney Bowes by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.