Groupon (GRPN) Upgraded to “Buy” by Vetr
Vetr upgraded shares of Groupon (NASDAQ:GRPN) from a hold rating to a buy rating in a report published on Monday morning. The brokerage currently has $6.09 price objective on the coupon company’s stock.
Several other brokerages have also recently issued reports on GRPN. Cowen raised shares of Groupon from an underperform rating to a market perform rating and increased their price target for the stock from $2.90 to $5.38 in a research report on Monday, October 16th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $6.25 target price (up previously from $5.50) on shares of Groupon in a report on Wednesday, November 1st. B. Riley reaffirmed a buy rating and issued a $6.30 target price on shares of Groupon in a report on Thursday, November 2nd. Zacks Investment Research raised shares of Groupon from a hold rating to a strong-buy rating and set a $6.25 target price on the stock in a report on Monday, November 6th. Finally, Jefferies Group reaffirmed a hold rating and issued a $4.00 target price on shares of Groupon in a report on Thursday, October 19th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $4.99.
Shares of Groupon (GRPN) traded up $0.10 on Monday, hitting $5.73. 10,749,100 shares of the stock traded hands, compared to its average volume of 8,688,727. Groupon has a 1-year low of $2.90 and a 1-year high of $5.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.86 and a current ratio of 0.86.
Groupon (NASDAQ:GRPN) last issued its quarterly earnings results on Wednesday, November 1st. The coupon company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $634.46 million for the quarter, compared to analysts’ expectations of $642.62 million. Groupon had a negative net margin of 2.97% and a negative return on equity of 1.47%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. analysts predict that Groupon will post -0.02 EPS for the current year.
In other Groupon news, Director Eric P. Lefkofsky sold 750,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $4.40, for a total value of $3,300,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Sullivan sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $4.90, for a total transaction of $122,500.00. Following the completion of the transaction, the insider now owns 353,524 shares in the company, valued at $1,732,267.60. The disclosure for this sale can be found here. Insiders sold 2,320,000 shares of company stock worth $10,253,950 over the last quarter. 23.40% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in GRPN. Aperio Group LLC increased its stake in 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 last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Groupon during the second quarter worth approximately $116,000. Prudential Financial Inc. grew its position in shares of Groupon by 157.7% during the second quarter. Prudential Financial Inc. now owns 31,713 shares of the coupon company’s stock worth $122,000 after acquiring an additional 19,408 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Groupon during the second quarter worth approximately $122,000. Finally, New York State Teachers Retirement System purchased a new position in shares of Groupon during the third quarter worth approximately $122,000. Institutional investors own 60.04% of the company’s stock.
Groupon Company Profile
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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