NEW YORK (TheStreet) -- Shares of Stamps.com (STMP - Get Report) are sliding 4.44% to $84.42 on heavy trading volume early Tuesday afternoon even though the El Segundo, CA-based company reported solid results for the 2016 first quarter.
After yesterday's closing bell, the provider of Internet-based mailing and shipping solutions posted adjusted earnings of $1.72 per diluted share, topping analysts' estimates of $1.07 per share.
Revenue for the period was $81.8 million, higher than Wall Street's expectations of $69 million.
Stamps.com also raised its 2016 guidance to earnings per share between $6 and $6.50 on revenue of $310 million to $330 million, from earnings per share of $5 to $5.50 on revenue of $290 million to $310 million.
Analysts are looking for earnings of $5.28 per share on revenue of $301.8 million for the full year.
About 3.23 million of the company's shares were traded so far today vs. its average 30-day volume of 817,276 shares per day.
Yesterday, Stamps.com stock soared 17% in after-hours trading following the results, MarketWatch said.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, expanding profit margins and largely solid financial position with reasonable debt levels by most measures.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: STMP