Groupon (NASDAQ:GRPN) Reaches New 1-Year High on Analyst Upgrade

Groupon, Inc. (NASDAQ:GRPN)’s share price hit a new 52-week high during trading on Wednesday after Northland Securities raised their price target on the stock from $30.00 to $35.00. Northland Securities currently has an outperform rating on the stock. Groupon traded as high as $32.97 and last traded at $32.44, with a volume of 1654982 shares changing hands. The stock had previously closed at $32.38.

Other equities analysts have also recently issued research reports about the company. Ascendiant Capital Markets lifted their price objective on Groupon from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, March 17th. The Goldman Sachs Group lifted their price objective on Groupon from $9.00 to $15.00 and gave the company a “sell” rating in a research note on Monday, May 12th. Roth Mkm lifted their price objective on Groupon from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen cut Groupon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

Institutional Investors Weigh In On Groupon

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Groupon by 31.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,606 shares of the coupon company’s stock worth $837,000 after buying an additional 10,588 shares during the period. AQR Capital Management LLC purchased a new stake in Groupon during the first quarter worth $224,000. Cubist Systematic Strategies LLC purchased a new stake in Groupon during the first quarter worth $1,800,000. Continental General Insurance Co. purchased a new stake in Groupon during the first quarter worth $42,847,000. Finally, FORA Capital LLC purchased a new stake in Groupon during the first quarter worth $409,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Groupon Stock Performance

The stock has a 50-day simple moving average of $21.94 and a 200 day simple moving average of $15.38. The company has a debt-to-equity ratio of 5.66, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $1.30 billion, a PE ratio of 63.79 and a beta of 0.83.

Groupon (NASDAQ:GRPN) last issued its quarterly earnings data on Wednesday, May 7th. The coupon company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.38. Groupon had a return on equity of 91.94% and a net margin of 3.87%. The business had revenue of $117.19 million for the quarter, compared to the consensus estimate of $115.51 million. Equities analysts anticipate that Groupon, Inc. will post -0.31 EPS for the current fiscal year.

About Groupon

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. It serves customers through its mobile applications and websites.