NEW YORK (TheStreet) -- Stamps.com
(STMP - Get Report) stock is plummeting Thursday after the postage retailer missed expectations for its first-quarter earnings and revenue.
By late afternoon, shares had tumbled 16.4% to $29.01.
Net income of 50 cents a share fell short of estimates by 4 cents, according to analysts surveyed by Thomson Reuters. Revenue of $33.3 million climbed 4% year over year, but missed estimates of $33.64 million.
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TheStreet Ratings team rates STAMPS.COM INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate STAMPS.COM INC (STMP) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and attractive valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
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