Groupon, Inc. (NASDAQ:GRPN) Lifted to “Market Perform” at Cowen and Company

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.

About Groupon

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).

Analyst Recommendations for Groupon (NASDAQ:GRPN)

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