Groupon Rating Lowered to Neutral at Goldman Sachs Group Inc. (GRPN)
Groupon (NASDAQ:GRPN) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $11.00 target price on the stock, down from their previous target price of $122.00. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 25.71% from the stock’s previous close. The analysts noted that the move was a valuation call.
In other Groupon news, Director Theodore Leonsis unloaded 150,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.66, for a total transaction of $1,599,000.00. Following the completion of the sale, the director now directly owns 793,546 shares of the company’s stock, valued at approximately $8,459,200. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Groupon (NASDAQ:GRPN) traded down 3.31% on Monday, hitting $8.75. 32,270,388 shares of the company’s stock traded hands. Groupon has a one year low of $3.70 and a one year high of $12.76. The stock’s 50-day moving average is $9.99 and its 200-day moving average is $9.42. The company’s market cap is $5.846 billion.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.02 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.01 by $0.01. The company had revenue of $595.10 million for the quarter, compared to the consensus estimate of $615.69 million. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that Groupon will post $0.09 earnings per share for the current fiscal year.
GRPN has been the subject of a number of other recent research reports. Analysts at Sterne Agee reiterated a “buy” rating on shares of Groupon in a research note to investors on Wednesday, November 20th. They now have a $9.82 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Groupon from $10.00 to $11.00 in a research note to investors on Friday, November 8th. They now have a “sector perform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Groupon from $10.00 to $11.00 in a research note to investors on Friday, November 8th. They now have a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $10.65.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.