Analysts Set Expectations for Groupon Inc’s FY2021 Earnings (GRPN)
Groupon Inc (NASDAQ:GRPN) – Equities researchers at DA Davidson upped their FY2021 earnings per share estimates for Groupon in a note issued to investors on Wednesday. DA Davidson analyst T. Forte now expects that the coupon company will post earnings per share of $0.10 for the year, up from their prior forecast of $0.08. DA Davidson has a “Buy” rating on the stock.
A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded Groupon from a “hold” rating to a “strong-buy” rating and set a $6.25 target price for the company in a research report on Monday, November 6th. TheStreet upgraded Groupon from a “d” rating to a “c-” rating in a research report on Thursday, November 2nd. Citigroup upped their target price on Groupon from $5.00 to $5.50 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Vetr cut Groupon from a “strong-buy” rating to a “strong sell” rating and set a $3.68 price target for the company. in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $6.25 price target (up previously from $5.50) on shares of Groupon in a report on Wednesday, November 1st. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $4.97.
Groupon (NASDAQ:GRPN) last released its earnings results on Wednesday, November 1st. The coupon company reported $0.01 earnings per share for the quarter. The firm had revenue of $634.46 million during the quarter, compared to the consensus estimate of $642.62 million. Groupon had a negative return on equity of 1.47% and a negative net margin of 2.97%. The company’s revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS.
Institutional investors have recently made changes to their positions in the stock. AXA bought a new stake in shares of Groupon during the 2nd quarter valued at about $5,332,000. Nationwide Fund Advisors bought a new position in Groupon in the second quarter worth approximately $1,093,000. Westpac Banking Corp bought a new position in Groupon in the third quarter worth approximately $877,000. Global X MANAGEMENT CO LLC boosted its holdings in Groupon by 16.2% in the third quarter. Global X MANAGEMENT CO LLC now owns 559,862 shares of the coupon company’s stock worth $2,911,000 after acquiring an additional 78,027 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Groupon by 150.3% in the second quarter. Quantbot Technologies LP now owns 300,100 shares of the coupon company’s stock worth $1,152,000 after acquiring an additional 180,200 shares in the last quarter. Institutional investors own 60.05% of the company’s stock.
In related news, CAO Brian Stevens sold 20,000 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $5.71, for a total transaction of $114,200.00. Following the sale, the chief accounting officer now owns 222,354 shares in the company, valued at approximately $1,269,641.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James Sullivan sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $4.90, for a total value of $122,500.00. Following the sale, the insider now owns 353,524 shares in the company, valued at approximately $1,732,267.60. The disclosure for this sale can be found here. Insiders sold a total of 2,320,000 shares of company stock worth $10,253,950 in the last quarter. Corporate insiders own 23.40% of the company’s stock.
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Groupon Company Profile
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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