Chinese Balloon Shot Down Galaxy S23 Ultra: Hands-On Netflix Password-Sharing Crackdown Super Bowl Ads Google's Answer to ChatGPT 'Knock at the Cabin' Review 'The Last of Us' Episode 4 Foods for Mental Health
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Downgrade stings Stamps.com

Stamps.com shares fell 97 cents, or 18 percent, to $4.56 Monday after Goldman Sachs cut the stock from a "trading buy" recommendation to a "market outperform."

Stamps.com (Nasdaq: STMP) has taken its investors on an ugly ride in the past year, falling from a 52-week high of $98.50 in November to a low of $3.50 in August.

In its latest quarter, Stamps.com topped analysts' estimates but still posted a loss of $3.4 million, or 72 cents a share, on sales of $3.7 million.

Including a variety of one-time charges, the company had a net loss of $52.3 million, or $1.09 a share, in the quarter.

First Call Corp. consensus expects it to lose 87 cents a share in its third quarter.

All five analysts following the stock rate it a "buy."

Stamps.com provides a variety of Internet mailing and shipping services.