Northland analyst Tim Klasell said Stamps.com has close relations with seven postage resellers whose primary function is to gather customers and resell USPS postage using individually negotiated agreements. Klasell said none of the relationships account for more than 10% of revenues and if a particular reseller were to fail or not renew its agreement, he finds it unlikely that the ecommerce customers would abandon the USPS but would rather just go with another reseller and the impact to Stamps.com would be minimal. The analyst has an Outperform rating on Stamps.com and a $120 price target on shares.