NEW YORK (TheStreet) -- Shares of RetailMeNot (SALE) were gaining 11.7% to $9.80 with heavy trading volume Tuesday after the online coupon company beat analysts' estimates for earnings in the third quarter.

Before the market opened on Tuesday, RetailMeNot reported earnings of 12 cents a share for the third quarter, above analysts' estimates of 4 cents a share for the quarter. Revenue fell 7.2% year over year to $52.41 million for the quarter, beating analysts' estimates of $48.58 million for the quarter.

"I'm pleased with our performance on mobile online transaction and in-store and advertising net revenues, and adjusted EBITDA during the third quarter," Founder and CEO Cotter Cunningham said in a statement. "We believe our large and engaged audience coupled with our differentiated content types will position us well for future success, both online and in-store."

Looking to full year 2015, RetailMeNot said it now expects revenue of $240 million to $242 million. Analysts expect the company to report revenue of $236.47 million for the year.

About 3.3 million shares of RetailMeNot were traded by 11:14 a.m. Tuesday, above the company's average trading volume of about 719,000 shares a day.

TheStreet Ratings team rates RETAILMENOT INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

We rate RETAILMENOT INC (SALE) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, deteriorating net income, disappointing return on equity and weak operating cash flow.

You can view the full analysis from the report here: SALE

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