Stamps.com (STMP) filed its 10-K for FY ’18 on Friday, March 1. Not surprisingly, the primary changes relative to last year were new risks and disclosures pertaining to the recently announced loss of direct compensation arrangements from the United States Postal Service (USPS) and the acquisition of MetaPack, which was completed in mid-August 2018.
Read MoreStamps.com (STMP) finished FY ’18 with a flourish, comfortably exceeding our estimates and consensus top to bottom. The feeling of awe quickly gave way to shock, however, as management’s FY ’19 guidance reflected expectations for a revenue decline along with adjusted EBITDA at roughly half the levels we were projecting.
Read MoreStamps.com (STMP) reports Q4 ’18 results on Thursday, February 21, after the market closes.
Read MoreThe USPS reported its fiscal first quarter 2019 results this past Friday, February 8, 2019. Most notably, Shipping and Packages revenue increased 8.7% Y/Y on volume growth of 5.4%.
Read MoreBased on Stamps.com’s (STMP) last closing price of $187.44, shares currently trade at 11.8x and 17.6x our FY ’19 adjusted EBITDA and non-GAAP EPS estimates, respectively.
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