NEW YORK (TheStreet) -- Shares of Constant Contact (CTCT) are down by 24.88% to $26.18 in mid-morning trading on Friday, after the e-mail marketing services provider reported revenue for the 2015 first quarter that missed analysts' expectations and lowered its full year guidance forecast.
Revenue for the most recent quarter was $90.4 million, versus the $94.43 million analysts were anticipating for the period.
"We were disappointed with the mixed results for the quarter, as revenue came in below expectations," Constant Contact CEO Gail Goodman said in a statement.
The company's non-GAAP earnings were 22 cents per share, an increase from the 16 cents per diluted share reported in the first quarter of 2015.
Looking ahead to the 2015 full year, Constant Contact is expecting total revenue of $371 million to $377 million, compared to its prior estimate of $388 million. Non-GAAP net income is forecast to be in a range between $1.29 per share and $1.38 per share. The company previously guided for earnings of $1.38 per share for the year.
Additionally, several analysts lowered their rating on Constant Contact this morning.
The company was downgraded to "neutral" from "buy" at Rosenblatt, to "neutral" from "outperform" at Credit Suisse, to "market perform" from "outperform" at Barrington, and Canaccord lowered its price target on the stock to $40 from $46.
Separately, TheStreet Ratings team rates CONSTANT CONTACT INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: