Why RetailMeNot (SALE) Stock Is Sinking Today

NEW YORK (TheStreet) -- Shares of RetailMeNot (SALE) are plummeting -23.14% to $19.44 in early market trading after reporting net income of $4.3 million, a 16% decline from the previous year, and missing analysts' estimate by 1 cent in its the second quarter financial results reported late yesterday.

The company reported revenue of $59.5 million for the quarter, missing the consensus estimate by $0.5 million.

RetailMeNot was downgraded to "sector perform" from "outperform" today, with a lowered price target of $24 from $42, at RBC Capital Markets. 

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SALE ChartSALE data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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