Maxim analyst Allen Klee upgraded Stamps.com to Buy from Hold, saying another 15% pullback in its stock price since the "disappointing" Q4 earnings report has made the risk-reward on the stock favorable. The analyst points to the 13.7-times his expected 2019 earnings multiple, which he believes "more than adequately compensates investors for a lower earnings run rate and likely slower growth for the next two year." Klee acknowledges near-term earnings challenges from higher spending, but contends that "any wins of new carriers is not priced into the stock."