Groupon Inc. (GRPN) Given New $6.00 Price Target at Macquarie
Groupon Inc. (NASDAQ:GRPN) had its price objective raised by Macquarie from $5.30 to $6.00 in a research note issued to investors on Tuesday. They currently have an outperform rating on the coupon company’s stock.
Other equities analysts have also recently issued reports about the company. B. Riley reiterated a neutral rating and set a $4.50 price target on shares of Groupon in a report on Thursday, July 28th. Jefferies Group raised their target price on Groupon from $3.50 to $4.75 and gave the company a hold rating in a report on Thursday, July 28th. Royal Bank Of Canada raised their target price on Groupon from $3.00 to $4.00 and gave the company an underperform rating in a report on Thursday, July 28th. Piper Jaffray Cos. upgraded Groupon from a neutral rating to an overweight rating and raised their target price for the company from $4.00 to $6.00 in a report on Monday, July 18th. Finally, Maxim Group started coverage on Groupon in a report on Wednesday, June 22nd. They set a buy rating and a $5.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $6.53.
Groupon (NASDAQ:GRPN) opened at 5.29 on Tuesday. Groupon has a one year low of $2.15 and a one year high of $5.94. The company’s market capitalization is $3.04 billion. The firm has a 50-day moving average of $5.33 and a 200-day moving average of $4.28.
Groupon (NASDAQ:GRPN) last released its quarterly earnings results on Wednesday, July 27th. The coupon company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business earned $756.03 million during the quarter, compared to analysts’ expectations of $710.94 million. Groupon had a negative return on equity of 14.95% and a negative net margin of 5.71%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 EPS.
In other news, CAO Brian Stevens sold 15,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $5.54, for a total value of $83,100.00. Following the completion of the sale, the chief accounting officer now owns 147,521 shares of the company’s stock, valued at $817,266.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Sullivan sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $5.81, for a total value of $116,200.00. Following the completion of the sale, the insider now directly owns 299,778 shares of the company’s stock, valued at approximately $1,741,710.18. The disclosure for this sale can be found here. 23.86% of the stock is owned by insiders.
Several large investors have recently modified their holdings of GRPN. M&T Bank Corp bought a new stake in shares of Groupon during the first quarter valued at $107,000. Invictus RG increased its stake in shares of Groupon by 79.9% in the first quarter. Invictus RG now owns 30,777 shares of the coupon company’s stock valued at $123,000 after buying an additional 13,670 shares during the last quarter. Concourse Capital Management LLC acquired a new position in shares of Groupon during the second quarter worth approximately $104,000. Jasper Ridge Partners L.P. acquired a new position in shares of Groupon during the second quarter worth approximately $108,000. Finally, Royal Bank of Canada increased its position in shares of Groupon by 80.0% in the second quarter. Royal Bank of Canada now owns 33,375 shares of the coupon company’s stock worth $109,000 after buying an additional 14,829 shares in the last quarter. 54.60% of the stock is owned by institutional investors.
Groupon, Inc operates online local commerce marketplaces throughout 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, the Middle East and Africa, and international operations (Rest of World).
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