Groupon Inc. (GRPN) Rating Increased to Outperform at Wedbush
Groupon Inc. (NASDAQ:GRPN) was upgraded by research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. The brokerage presently has a $6.50 price objective on the coupon company’s stock, up from their previous price objective of $4.50. Wedbush’s price target points to a potential upside of 27.70% from the stock’s current price.
A number of other equities research analysts have also weighed in on the company. Macquarie raised their price objective on Groupon from $5.30 to $6.00 and gave the company an “outperform” rating in a research note on Tuesday, October 4th. Boenning Scattergood initiated coverage on Groupon in a report on Thursday, September 29th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $5.00 target price on shares of Groupon in a report on Tuesday, September 27th. Loop Capital initiated coverage on Groupon in a report on Tuesday, September 13th. They set a “hold” rating and a $6.00 target price on the stock. Finally, Jefferies Group reaffirmed a “hold” rating and set a $4.75 target price on shares of Groupon in a report on Tuesday, September 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.62.
Shares of Groupon (NASDAQ:GRPN) traded up 1.60% on Monday, reaching $5.09. The company had a trading volume of 13,338,981 shares. The stock has a 50 day moving average price of $5.23 and a 200-day moving average price of $4.34. The company’s market capitalization is $2.92 billion. Groupon has a 12 month low of $2.15 and a 12 month high of $5.94.
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Groupon (NASDAQ:GRPN) last issued its quarterly earnings data on Wednesday, July 27th. The coupon company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Groupon had a negative return on equity of 14.95% and a negative net margin of 5.71%. The firm earned $756.03 million during the quarter, compared to analyst estimates of $710.94 million. During the same quarter last year, the firm earned $0.02 EPS. Groupon’s quarterly revenue was up 2.4% on a year-over-year basis.
In other news, Director Peter J. Barris sold 730,349 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $5.69, for a total value of $4,155,685.81. Following the completion of the sale, the director now owns 116,923 shares of the company’s stock, valued at $665,291.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Dane A. Drobny sold 30,798 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $5.48, for a total value of $168,773.04. Following the completion of the sale, the general counsel now directly owns 320,132 shares of the company’s stock, valued at approximately $1,754,323.36. The disclosure for this sale can be found here. 23.86% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of Groupon by 3.8% in the second quarter. Legal & General Group Plc now owns 37,848 shares of the coupon company’s stock valued at $123,000 after buying an additional 1,369 shares during the period. Amalgamated Bank boosted its stake in shares of Groupon by 9.8% in the second quarter. Amalgamated Bank now owns 58,455 shares of the coupon company’s stock valued at $344,000 after buying an additional 5,219 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Groupon by 9.6% in the second quarter. Teacher Retirement System of Texas now owns 61,190 shares of the coupon company’s stock valued at $199,000 after buying an additional 5,343 shares during the period. Princeton Alpha Management LP boosted its stake in shares of Groupon by 11.6% in the second quarter. Princeton Alpha Management LP now owns 63,743 shares of the coupon company’s stock valued at $207,000 after buying an additional 6,613 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Groupon by 3.7% in the second quarter. UBS Asset Management Americas Inc. now owns 354,920 shares of the coupon company’s stock valued at $1,153,000 after buying an additional 12,600 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.
Groupon Company Profile
Groupon, Inc operates online local commerce marketplaces throughout 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, the Middle East and Africa, and international operations (Rest of World).
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