Pitney Bowes (NYSE:PBI) Now Covered by Bank of America

Investment analysts at Bank of America began coverage on shares of Pitney Bowes (NYSE:PBI) in a research report issued on Tuesday. The firm set an “underperform” rating and a $9.00 price target on the technology company’s stock. Bank of America‘s price target points to a potential downside of 12.32% from the company’s previous close.

PBI has been the topic of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a report on Monday, December 29th. JMP Securities set a $13.00 target price on Pitney Bowes in a report on Wednesday, December 3rd. Citigroup began coverage on Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating on the stock. Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Finally, Truist Financial began coverage on shares of Pitney Bowes in a research report on Friday, December 12th. They set a “hold” rating and a $11.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pitney Bowes presently has an average rating of “Hold” and an average price target of $11.40.

Pitney Bowes Stock Up 0.9%

PBI stock opened at $10.27 on Tuesday. The company has a 50 day moving average of $10.42 and a two-hundred day moving average of $10.76. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.48 and a beta of 1.41. Pitney Bowes has a 12-month low of $7.39 and a 12-month high of $13.11.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its holdings 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 valued at $38,000 after buying an additional 1,015 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Pitney Bowes by 190.9% in the fourth 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 during the last quarter. UMB Bank n.a. increased its stake in Pitney Bowes by 404.6% in the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock valued at $43,000 after buying an additional 3,225 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Pitney Bowes in the 2nd quarter valued at $51,000. Finally, Canada Pension Plan Investment Board bought a new stake in Pitney Bowes during the 2nd quarter worth about $51,000. Institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.