Groupon, Inc. (GRPN) Given “Buy” Rating at Piper Jaffray Companies
Groupon, Inc. (NASDAQ:GRPN)‘s stock had its “buy” rating restated by investment analysts at Piper Jaffray Companies in a note issued to investors on Thursday. They presently have a $5.50 price target on the coupon company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 25.28% from the company’s previous close.
Several other research analysts have also issued reports on GRPN. UBS AG reduced their target price on Groupon from $3.65 to $2.85 and set a “sell” rating on the stock in a research report on Wednesday, May 31st. B. Riley raised Groupon to a “buy” rating and set a $5.50 target price on the stock in a research report on Tuesday, July 4th. BidaskClub raised Groupon from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Barclays PLC reaffirmed an “underweight” rating and set a $3.85 target price (up from $3.40) on shares of Groupon in a research report on Wednesday, August 9th. Finally, Cowen and Company reaffirmed a “sell” rating and set a $3.50 target price on shares of Groupon in a research report on Thursday, August 3rd. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $4.57.
Shares of Groupon (NASDAQ GRPN) traded up 3.19% during trading on Thursday, hitting $4.53. The stock had a trading volume of 8,906,227 shares. The company’s market cap is $2.52 billion. The stock has a 50-day moving average price of $4.18 and a 200 day moving average price of $3.77. Groupon has a 12 month low of $2.90 and a 12 month high of $5.53.
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, topping analysts’ consensus estimates of ($0.04) by $0.06. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The firm had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $668.84 million. During the same period in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts expect that Groupon will post $0.12 EPS for the current fiscal year.
In related news, Director Eric P. Lefkofsky sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $4.40, for a total transaction of $3,300,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Sullivan sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $3.96, for a total value of $99,000.00. Following the sale, the insider now directly owns 343,353 shares in the company, valued at $1,359,677.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,847,719 shares of company stock worth $12,252,767. 23.40% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Karp Capital Management Corp acquired a new stake in Groupon during the first quarter worth about $108,000. Aperio Group LLC boosted its position in Groupon by 4.6% during the second quarter. Aperio Group LLC now owns 28,844 shares of the coupon company’s stock worth $111,000 after purchasing an additional 1,268 shares in the last quarter. Invictus RG boosted its position in Groupon by 359.6% during the first quarter. Invictus RG now owns 28,782 shares of the coupon company’s stock worth $113,000 after purchasing an additional 22,520 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Groupon during the second quarter worth approximately $116,000. Finally, FNY Managed Accounts LLC purchased a new position in Groupon during the first quarter worth approximately $117,000. 56.08% of the stock is currently owned by hedge funds and other institutional investors.
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).
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