Groupon (NASDAQ:GRPN) Price Target Cut to $23.00

Groupon (NASDAQ:GRPN – Get Rating) had its price objective reduced by Credit Suisse Group from $29.00 to $23.00 in a report published on Tuesday morning, The Fly reports.

A number of other research firms also recently commented on GRPN. Wedbush dropped their price target on shares of Groupon from $30.00 to $22.00 in a research report on Wednesday, March 2nd. Ascendiant Capital Markets dropped their target price on shares of Groupon from $35.00 to $30.00 and set a buy rating on the stock in a research report on Thursday, March 24th. StockNews.com started coverage on shares of Groupon in a research report on Thursday, March 31st. They issued a hold rating on the stock. Finally, Barclays lowered their price objective on shares of Groupon from $23.00 to $20.00 in a research report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Groupon currently has a consensus rating of Hold and a consensus price target of $21.60.

Shares of NASDAQ:GRPN opened at $14.76 on Tuesday. The company has a market cap of $442.21 million, a PE ratio of 7.49 and a beta of 2.11. The company’s 50-day moving average price is $18.78 and its 200 day moving average price is $21.86. Groupon has a fifty-two week low of $12.66 and a fifty-two week high of $49.19. The company has a quick ratio of 0.93, a current ratio of 0.88 and a debt-to-equity ratio of 1.21.

Groupon (NASDAQ:GRPN – Get Rating) last released its quarterly earnings results on Monday, May 9th. The coupon company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.06. Groupon had a net margin of 8.09% and a negative return on equity of 13.88%. The company had revenue of $153.30 million for the quarter, compared to the consensus estimate of $165.29 million. During the same period in the previous year, the firm earned $0.06 EPS. Groupon’s revenue was down 41.9% on a year-over-year basis. As a group, equities analysts anticipate that Groupon will post -0.38 EPS for the current year.

In other news, insider Jan Barta acquired 57,209 shares of Groupon stock in a transaction dated Monday, April 4th. The stock was acquired at an average cost of $19.90 per share, for a total transaction of $1,138,459.10. Following the completion of the purchase, the insider now owns 1,187,500 shares of the company’s stock, valued at $23,631,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 1,783,510 shares of company stock valued at $31,726,491 over the last 90 days. 16.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in GRPN. Dark Forest Capital Management LP bought a new stake in Groupon in the 3rd quarter valued at $25,000. Advisor Group Holdings Inc. grew its holdings in shares of Groupon by 113.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,444 shares of the coupon company’s stock worth $55,000 after purchasing an additional 1,300 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Groupon by 12.7% in the 3rd quarter. Royal Bank of Canada now owns 3,370 shares of the coupon company’s stock worth $77,000 after purchasing an additional 381 shares during the last quarter. Schroder Investment Management Group bought a new stake in Groupon during the 3rd quarter worth about $91,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in Groupon during the 1st quarter worth about $91,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Groupon Company Profile (Get Rating)

Groupon, Inc, together with its subsidiaries, operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants; and first-party goods inventory. It serves customers through its mobile applications and websites.

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