Groupon (NASDAQ:GRPN) Trading Up 6.5% – Should You Buy?

Groupon, Inc. (NASDAQ:GRPN) shares were up 6.5% during trading on Wednesday . The company traded as high as $27.83 and last traded at $27.7560. 631,609 shares were traded during mid-day trading, a decline of 61% from the average session volume of 1,636,078 shares. The stock had previously closed at $26.05.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Northland Securities set a $26.00 price target on shares of Groupon in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Groupon from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $13.00 price objective (up from $10.00) on shares of Groupon in a report on Tuesday, May 12th. Finally, Citigroup reiterated an “outperform” rating on shares of Groupon in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Groupon currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Groupon Trading Down 9.0%

The company has a 50 day simple moving average of $21.15 and a 200 day simple moving average of $16.28. The stock has a market capitalization of $965.45 million, a PE ratio of -9.74 and a beta of 0.23.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Thursday, May 7th. The coupon company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $117.20 million during the quarter, compared to the consensus estimate of $117.65 million. On average, equities research analysts predict that Groupon, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Groupon

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in Groupon by 92.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock worth $31,000 after buying an additional 625 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Groupon in the third quarter valued at about $32,000. Johnson Financial Group Inc. acquired a new position in shares of Groupon during the fourth quarter worth about $35,000. Quarry LP increased its stake in shares of Groupon by 48.1% during the third quarter. Quarry LP now owns 1,938 shares of the coupon company’s stock worth $45,000 after acquiring an additional 629 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Groupon during the second quarter worth about $69,000. 90.05% of the stock is owned by institutional investors and hedge funds.

About Groupon

Groupon, Inc operates an online marketplace that connects subscribers with local merchants offering discounted goods, services and experiences. Through its website and mobile applications, Groupon provides time-limited deals across categories such as restaurants, travel, beauty and wellness, home services, and consumer products. Merchants partner with Groupon to attract new customers and drive foot traffic, leveraging the platform’s targeted marketing tools and large subscriber base to promote special offers and vouchers.

Founded in Chicago in 2008 by Andrew Mason, Eric Lefkofsky and Brad Keywell, Groupon pioneered the daily-deals model, quickly growing its user community and merchant network.