Jefferies Group LLC Reiterates “Hold” Rating for Groupon, Inc. (GRPN)
Groupon, Inc. (NASDAQ:GRPN)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They presently have a $4.00 price objective on the coupon company’s stock. Jefferies Group LLC’s price objective would indicate a potential downside of 16.67% from the company’s previous close. Jefferies Group also issued estimates for Groupon’s Q4 2017 earnings at $0.05 EPS.
Several other equities research analysts have also commented on the stock. B. Riley upgraded shares of Groupon from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $4.20 to $5.50 in a research note on Thursday, June 29th. Royal Bank Of Canada reiterated a “hold” rating and set a $4.00 price target on shares of Groupon in a research note on Friday, June 30th. Piper Jaffray Companies reiterated an “overweight” rating and set a $5.50 price target on shares of Groupon in a research note on Wednesday, June 28th. BidaskClub upgraded shares of Groupon from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $3.20 price target (down from $3.50) on shares of Groupon in a research note on Wednesday, July 26th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.77.
Shares of Groupon (GRPN) traded down 3.03% during midday trading on Thursday, hitting $4.80. 19,493,238 shares of the stock were exchanged. The company’s market cap is $2.67 billion. The stock has a 50 day moving average price of $4.71 and a 200-day moving average price of $3.92. Groupon has a 12 month low of $2.90 and a 12 month high of $5.37.
Groupon (NASDAQ:GRPN) last announced its quarterly earnings results on Wednesday, August 2nd. The coupon company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.06. Groupon had a negative net margin of 4.16% and a negative return on equity of 13.08%. The firm had revenue of $662.60 million for the quarter, compared to analyst estimates of $668.84 million. During the same period last year, the business earned ($0.01) EPS. Groupon’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts predict that Groupon will post $0.12 EPS for the current year.
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In related news, Director Eric P. Lefkofsky sold 1,500,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $4.39, for a total transaction of $6,585,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James Sullivan sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $4.90, for a total transaction of $122,500.00. Following the sale, the insider now directly owns 353,524 shares in the company, valued at approximately $1,732,267.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,872,719 shares of company stock worth $12,375,267. 23.40% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in GRPN. Wells Fargo & Company MN boosted its holdings in Groupon by 177.5% during the first quarter. Wells Fargo & Company MN now owns 510,797 shares of the coupon company’s stock worth $2,008,000 after buying an additional 326,756 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Groupon by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 1,424,065 shares of the coupon company’s stock worth $5,596,000 after buying an additional 74,298 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Groupon by 21.3% during the first quarter. UBS Asset Management Americas Inc. now owns 294,562 shares of the coupon company’s stock worth $1,158,000 after buying an additional 51,657 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Groupon during the first quarter worth about $108,000. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Groupon by 16.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 51,080 shares of the coupon company’s stock worth $201,000 after buying an additional 7,253 shares in the last quarter. 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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