Groupon Inc. (NASDAQ:GRPN) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. The firm currently has a $6.50 price target on the coupon company’s stock, up from their prior price target of $4.50. Wedbush’s price target suggests a potential upside of 29.74% from the company’s current price.
A number of other analysts have also recently commented on GRPN. Maxim Group initiated coverage on Groupon in a research report on Wednesday, June 22nd. They set a “buy” rating and a $5.00 price objective for the company. Brean Capital initiated coverage on Groupon in a research report on Wednesday, June 22nd. They set a “buy” rating for the company. Vetr cut Groupon from a “strong-buy” rating to a “hold” rating and set a $3.30 price objective for the company. in a research report on Monday, July 11th. Jefferies Group reiterated a “hold” rating on shares of Groupon in a research report on Monday, July 11th. Finally, Piper Jaffray Cos. upgraded Groupon from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.00 to $6.00 in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $6.62.
Shares of Groupon (NASDAQ:GRPN) opened at 5.01 on Monday. The firm has a 50 day moving average price of $5.23 and a 200 day moving average price of $4.34. The stock’s market cap is $2.88 billion. Groupon has a 12-month low of $2.15 and a 12-month high of $5.94.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Wednesday, July 27th. The coupon company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company earned $756.03 million during the quarter, compared to analysts’ expectations of $710.94 million. Groupon had a negative return on equity of 14.95% and a negative net margin of 5.71%. Groupon’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 earnings per share.
In other news, CAO Brian Stevens sold 15,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $5.54, for a total value of $83,100.00. Following the sale, the chief accounting officer now directly owns 147,521 shares in the company, valued at $817,266.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James Sullivan sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $5.81, for a total value of $116,200.00. Following the transaction, the insider now owns 299,778 shares in the company, valued at $1,741,710.18. The disclosure for this sale can be found here. 23.86% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRPN. First Trust Advisors LP increased its position in Groupon by 36.4% in the second quarter. First Trust Advisors LP now owns 11,161,721 shares of the coupon company’s stock valued at $36,276,000 after buying an additional 2,976,695 shares during the last quarter. HBK Investments L P increased its position in Groupon by 329.2% in the first quarter. HBK Investments L P now owns 3,494,900 shares of the coupon company’s stock valued at $13,945,000 after buying an additional 2,680,569 shares during the last quarter. Credit Suisse AG increased its position in Groupon by 324.7% in the second quarter. Credit Suisse AG now owns 2,287,173 shares of the coupon company’s stock valued at $7,434,000 after buying an additional 1,748,581 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Groupon during the first quarter valued at approximately $5,854,000. Finally, JPMorgan Chase & Co. increased its position in Groupon by 81.0% in the second quarter. JPMorgan Chase & Co. now owns 2,786,548 shares of the coupon company’s stock valued at $9,056,000 after buying an additional 1,246,957 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.
Groupon, Inc operates online local commerce marketplaces throughout the world that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America, which represents the United States and Canada; EMEA, which consists of Europe, the Middle East and Africa, and international operations (Rest of World).
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