Groupon (NASDAQ:GRPN) Trading Up 6.3% – Time to Buy?

Groupon, Inc. (NASDAQ:GRPN)’s stock price rose 6.3% on Monday . The company traded as high as $20.78 and last traded at $20.2840. Approximately 336,732 shares were traded during trading, a decline of 78% from the average daily volume of 1,551,784 shares. The stock had previously closed at $19.08.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GRPN shares. The Goldman Sachs Group reissued a “sell” rating and issued a $22.00 price objective on shares of Groupon in a research report on Monday, August 10th. Citigroup reaffirmed an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. Northland Securities set a $30.00 price objective on Groupon in a research note on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a report on Friday, September 4th. Finally, Wall Street Zen upgraded Groupon from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Groupon currently has a consensus rating of “Reduce” and an average target price of $26.00.

Groupon Stock Up 8.9%

The firm has a 50 day simple moving average of $22.52 and a 200-day simple moving average of $18.38. The company has a market cap of $844.72 million, a PE ratio of -6.67 and a beta of 0.24.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $124.67 million during the quarter, compared to analysts’ expectations of $127.09 million. As a group, equities analysts anticipate that Groupon, Inc. will post -0.14 EPS for the current year.

Institutional Trading of Groupon

A number of hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc raised its position in Groupon by 92.7% in the second quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock valued at $31,000 after purchasing an additional 625 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Groupon by 135.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,185 shares of the coupon company’s stock worth $56,000 after purchasing an additional 1,835 shares during the period. Royal Bank of Canada increased its position in shares of Groupon by 10.6% during the 1st quarter. Royal Bank of Canada now owns 7,618 shares of the coupon company’s stock worth $90,000 after purchasing an additional 731 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Groupon by 13.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company’s stock worth $316,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in Groupon by 10.1% in the 2nd quarter. Headlands Technologies LLC now owns 15,054 shares of the coupon company’s stock valued at $362,000 after buying an additional 1,382 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Groupon Company Profile

Groupon, Inc (NASDAQ: GRPN) operates a digital marketplace that connects consumers with local merchants and service providers. Through its website and mobile applications, the company offers discounted deals and promotions for restaurants, entertainment, travel, beauty and wellness, automotive services, home services, and other local experiences.

Groupon’s platform is designed to help merchants attract new customers, promote available services and manage marketing offers, while giving consumers access to discounts and curated experiences in their communities.