Macquarie Reiterates Neutral Rating for Groupon (GRPN)
Groupon (NASDAQ:GRPN)‘s stock had its “neutral” rating restated by investment analysts at Macquarie in a note issued to investors on Wednesday. They currently have a $6.50 price objective on the stock, down from their previous price objective of $7.00. Macquarie’s target price points to a potential upside of 5.35% from the stock’s previous close.
Groupon (NASDAQ:GRPN) traded down 12.72% during mid-day trading on Wednesday, hitting $6.17. The stock had a trading volume of 61,847,000 shares. Groupon has a 52 week low of $5.18 and a 52 week high of $12.76. The stock has a 50-day moving average of $6.4 and a 200-day moving average of $7.52. The company’s market cap is $4.209 billion.
Groupon (NASDAQ:GRPN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.01 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.01. The company had revenue of $751.60 million for the quarter, compared to the consensus estimate of $762.07 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. On average, analysts predict that Groupon will post $0.10 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America cut their price target on shares of Groupon to $7.50 in a research note on Wednesday. Separately, analysts at Jefferies Group cut their price target on shares of Groupon from $8.00 to $7.00 in a research note on Wednesday. Finally, analysts at B. Riley cut their price target on shares of Groupon from $9.50 to $8.50 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Groupon has a consensus rating of “Hold” and a consensus target price of $8.40.
Groupon, Inc (NASDAQ:GRPN) is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount.
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.