Benzinga | Aug 7, 2020 12:20PM EDT

Why Stamps.com's Stock Is Trading Higher Today

Stamps.com (NASDAQ:STMP) shares are trading higher on Friday after the company reported better-than-expected second-quarter EPS and sales results. The company raised fiscal year 2020 EPS and sales guidance above estimates.

Stamps.com is a provider of internet-based mailing and shipping solutions. The company's operating segments are Stamps.com and MetaPack. The Stamps.com segment makes up more than 90% of the company's revenue. This segment derives revenue from online postage and shipping software solutions offered to consumers, small businesses, e-commerce shippers, enterprise mailers, and high volume shippers.

Stamps.com's customers are primarily located in the U.S. MetaPack derives revenue from multi-carrier enterprise-level shipping software solutions for large e-commerce retailers and brands. MetaPack's customers are primarily located outside the U.S.

Stamps.com shares were trading up 16.64% to $305.99 at the time of publication Friday. The stock has a 52-week high of $325.13 and a 52-week low of $51.54.