Groupon Inc. (GRPN) Upgraded to Outperform by Wedbush
Wedbush upgraded shares of Groupon Inc. (NASDAQ:GRPN) from a neutral rating to an outperform rating in a research note published on Monday morning. The brokerage currently has $6.50 price target on the coupon company’s stock, up from their prior price target of $4.50.
A number of other research analysts have also recently commented on the stock. Vetr cut shares of Groupon from a hold rating to a sell rating and set a $5.37 target price for the company. in a report on Monday, August 8th. Piper Jaffray Cos. raised shares of Groupon from a neutral rating to an overweight rating and increased their target price for the stock from $4.00 to $6.00 in a report on Monday, July 18th. Jefferies Group reiterated a hold rating and issued a $4.75 price objective on shares of Groupon in a report on Tuesday, September 6th. Evercore ISI reiterated a hold rating and issued a $4.00 price objective on shares of Groupon in a report on Tuesday, July 26th. Finally, Zacks Investment Research lowered shares of Groupon from a buy rating to a hold rating in a report on Tuesday, August 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Groupon currently has a consensus rating of Hold and an average target price of $6.62.
Groupon (NASDAQ:GRPN) last posted its earnings results on Wednesday, July 27th. The coupon company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm earned $756.03 million during the quarter, compared to analysts’ expectations of $710.94 million. Groupon had a negative net margin of 5.71% and a negative return on equity of 14.95%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 earnings per share.
In other Groupon news, CAO Brian Stevens sold 15,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $817,266.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter J. Barris sold 730,349 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $5.69, for a total value of $4,155,685.81. Following the completion of the sale, the director now owns 116,923 shares of the company’s stock, valued at approximately $665,291.87. The disclosure for this sale can be found here. 23.86% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Groupon by 559.2% in the first quarter. BlackRock Inc. now owns 57,948 shares of the coupon company’s stock valued at $231,000 after buying an additional 49,158 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Groupon by 48.5% in the first quarter. BlackRock Group LTD now owns 379,397 shares of the coupon company’s stock valued at $1,512,000 after buying an additional 123,921 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Groupon by 202.7% in the first quarter. JPMorgan Chase & Co. now owns 1,539,591 shares of the coupon company’s stock valued at $6,143,000 after buying an additional 1,030,907 shares during the last quarter. Menta Capital LLC bought a new stake in shares of Groupon during the first quarter valued at $663,000. Finally, M&T Bank Corp bought a new stake in shares of Groupon during the first quarter valued at $107,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.
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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