Seeking Alpha Author Robert Maltbie joins Cheddar to discuss his "buy" rating on Stamps.com. Projections for an above-average Christmas shopping season and e-commerce participation benefitted this company immensely. Maltbie puts a $250 price target on the company.
Stamps.com's strategy to emphasize marketing initiatives this year boosted results well above Maltbie's prior expectations. Last quarter, revenue was $116.1 million, up 38% compared to a year ago 2016. Mailing and shipping revenue was $111.8 million, up 37% year-over-year.
Maltbie talks about Stamps.com's partnerships with Amazon Marketplace and USPS. He discusses some challenges for the company and what his expectations are for 2018.
The U.S. added 142,000 jobs in August, below expectations. The unemployment rate fell to 4.2%. The cooling job market raises chances for an interest rate cut.
The X and Starlink owner plays a game of chicken with Brazil's Supreme Court. Also: Disney v DirecTV, the future of steel, and that crazy ol' stock market!
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