Groupon, Inc. (NASDAQ:GRPN) was upgraded by equities research analysts at Cowen and Company from an “underperform” rating to a “market perform” rating in a report released on Monday, October 16th, Marketbeat.com reports. The brokerage currently has a $5.38 price objective on the coupon company’s stock, up from their prior price objective of $2.90. Cowen and Company’s price target points to a potential upside of 16.70% from the company’s current price.
A number of other research analysts have also weighed in on the company. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $4.70 price objective on shares of Groupon in a research report on Wednesday, October 11th. Vetr lowered Groupon from a “strong-buy” rating to a “buy” rating and set a $5.83 price target for the company. in a research report on Wednesday, October 4th. DA Davidson began coverage on Groupon in a research report on Friday, September 22nd. They issued a “buy” rating and a $5.00 price target for the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $5.50 price target on shares of Groupon in a research report on Thursday, September 21st. Finally, Wedbush reiterated a “positive” rating and issued a $4.08 price target (down previously from $4.50) on shares of Groupon in a research report on Wednesday, August 23rd. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Groupon currently has an average rating of “Hold” and an average price target of $4.71.
Shares of Groupon (NASDAQ GRPN) opened at 4.61 on Monday. Groupon has a 12 month low of $2.90 and a 12 month high of $5.34. The company’s market capitalization is $2.56 billion. The company’s 50 day moving average price is $4.72 and its 200 day moving average price is $3.94.
Groupon (NASDAQ:GRPN) last issued its quarterly earnings data on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. The firm had revenue of $662.60 million during the quarter, compared to analyst estimates of $668.84 million. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. Analysts expect that Groupon will post $0.12 EPS for the current fiscal year.
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In other news, CAO Brian Stevens sold 10,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $4.04, for a total transaction of $40,400.00. Following the sale, the chief accounting officer now directly owns 215,696 shares of the company’s stock, valued at $871,411.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric P. Lefkofsky sold 1,500,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $4.39, for a total transaction of $6,585,000.00. The disclosure for this sale can be found here. Insiders have sold 2,872,719 shares of company stock worth $12,375,267 over the last three months. Corporate insiders own 23.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Pictet Asset Management Ltd. purchased a new stake in Groupon in the third quarter valued at $37,704,000. River & Mercantile Asset Management LLP acquired a new position in shares of Groupon in the third quarter worth about $3,410,000. Ameritas Investment Partners Inc. acquired a new position in shares of Groupon in the second quarter worth about $116,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Groupon by 14.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,487 shares of the coupon company’s stock worth $225,000 after acquiring an additional 7,407 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Groupon by 1,570.4% in the second quarter. The Manufacturers Life Insurance Company now owns 271,342 shares of the coupon company’s stock worth $1,042,000 after acquiring an additional 255,098 shares during the period. 56.07% of the stock is currently owned by institutional investors.
Groupon, Inc operates online local commerce marketplaces around 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, and the Middle East and Africa, and the remainder of its international operations (Rest of World).
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