Stock Traders Buy Large Volume of Put Options on Groupon (GRPN)
Shares of Groupon (NASDAQ:GRPN) saw unusually large options trading activity on Thursday. Traders bought 12,872 put options on the company, Stock Ratings Network reports. This is an increase of approximately 112% compared to the average volume of 6,074 put options.
A number of analysts have recently weighed in on GRPN shares. Analysts at Morgan Stanley upgraded shares of Groupon (NASDAQ:GRPN) from an “equal weight” rating to an “overweight” rating in a research note to investors on Thursday, September 5th. They now have a $14.00 price target on the stock, up previously from $11.00. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Groupon (NASDAQ:GRPN) in a research note to investors on Friday, August 16th. Finally, analysts at Credit Suisse raised their price target on shares of Groupon (NASDAQ:GRPN) from $6.50 to $9.00 in a research note to investors on Friday, August 9th. They now have a “neutral” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company’s stock. Groupon has a consensus rating of “Hold” and a consensus price target of $9.51.
Groupon (NASDAQ:GRPN) traded up 1.95% during mid-day trading on Thursday, hitting $11.755. The stock had a trading volume of 31,735,034 shares. Groupon has a one year low of $2.60 and a one year high of $11.55. The stock’s 50-day moving average is $9.86 and its 200-day moving average is $7.54. The company’s market cap is $7.823 billion.
Groupon (NASDAQ:GRPN) last announced its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.02. The company had revenue of $608.70 million for the quarter, compared to the consensus estimate of $606.23 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts expect that Groupon will post $0.13 EPS for the current fiscal year.
Groupon, Inc offers online retail services. The Company provides daily deal on the stuff to do, eat, see and buy in more than 500 markets in 44 countries.
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