Piper Jaffray Companies Reiterates “Buy” Rating for Groupon, Inc. (GRPN)
Groupon, Inc. (NASDAQ:GRPN)‘s stock had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies in a research note issued on Thursday. They currently have a $5.50 target price on the coupon company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 20.61% from the company’s previous close.
A number of other research analysts also recently commented on GRPN. UBS AG dropped their target price on shares of Groupon from $3.65 to $2.85 and set a “sell” rating on the stock in a research report on Wednesday, May 31st. B. Riley raised shares of Groupon to a “buy” rating and set a $5.50 target price on the stock in a research report on Tuesday, July 4th. BidaskClub raised shares of Groupon from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Barclays PLC reaffirmed an “underweight” rating and issued a $3.85 target price (up from $3.40) on shares of Groupon in a research report on Wednesday, August 9th. Finally, Cowen and Company reaffirmed a “sell” rating and issued a $3.50 target price on shares of Groupon in a research report on Thursday, August 3rd. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.59.
Shares of Groupon (GRPN) opened at 4.56 on Thursday. The stock’s 50 day moving average is $4.18 and its 200-day moving average is $3.77. The stock’s market capitalization is $2.54 billion. Groupon has a one year low of $2.90 and a one year high of $5.53.
Groupon (NASDAQ:GRPN) last announced its quarterly earnings data on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. Groupon had a negative net margin of 4.16% and a negative return on equity of 13.08%. The business had revenue of $662.60 million for the quarter, compared to analyst estimates of $668.84 million. During the same period last year, the business earned ($0.01) EPS. The company’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts predict that Groupon will post $0.12 EPS for the current fiscal year.
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In other news, Director Peter J. Barris sold 562,719 shares of Groupon stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $3.96, for a total value of $2,228,367.24. Following the sale, the director now owns 168,887 shares of the company’s stock, valued at $668,792.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Stevens sold 10,000 shares of Groupon stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $4.04, for a total transaction of $40,400.00. Following the completion of the sale, the chief accounting officer now directly owns 215,696 shares in the company, valued at approximately $871,411.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,847,719 shares of company stock worth $12,252,767. Insiders own 23.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp acquired a new stake in shares of Groupon in the first quarter valued at about $108,000. Aperio Group LLC lifted its stake in shares of Groupon by 4.6% in the second quarter. Aperio Group LLC now owns 28,844 shares of the coupon company’s stock valued at $111,000 after purchasing an additional 1,268 shares during the period. Invictus RG lifted its stake in shares of Groupon by 359.6% in the first quarter. Invictus RG now owns 28,782 shares of the coupon company’s stock valued at $113,000 after purchasing an additional 22,520 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Groupon in the second quarter valued at about $116,000. Finally, FNY Managed Accounts LLC acquired a new stake in shares of Groupon in the first quarter valued at about $117,000. Hedge funds and other institutional investors own 56.08% of the company’s stock.
Groupon, Inc operates online local commerce marketplaces around 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, and the Middle East and Africa, and the remainder of its international operations (Rest of World).
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