Analysts Set Groupon, Inc. (NASDAQ:GRPN) Target Price at $19.50

Shares of Groupon, Inc. (NASDAQ:GRPN) have received a consensus recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $19.50.

Several brokerages recently weighed in on GRPN. Wall Street Zen lowered Groupon from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Citigroup reiterated an “outperform” rating on shares of Groupon in a research report on Tuesday, June 9th. The Goldman Sachs Group reiterated a “sell” rating and issued a $13.00 target price (up from $10.00) on shares of Groupon in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Finally, Northland Securities set a $26.00 price target on shares of Groupon in a research note on Wednesday, May 27th.

Institutional Investors Weigh In On Groupon

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of Groupon by 552.5% during the 2nd quarter. Bank of America Corp DE now owns 1,136,524 shares of the coupon company’s stock valued at $38,017,000 after purchasing an additional 962,337 shares during the period. Millennium Management LLC boosted its stake in Groupon by 749.0% in the 4th quarter. Millennium Management LLC now owns 791,498 shares of the coupon company’s stock worth $13,938,000 after purchasing an additional 698,270 shares during the period. Renaissance Technologies LLC grew its holdings in Groupon by 464.1% during the 1st quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company’s stock valued at $7,371,000 after buying an additional 509,600 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Groupon by 22.2% during the third quarter. Vanguard Group Inc. now owns 2,108,578 shares of the coupon company’s stock valued at $49,235,000 after buying an additional 383,277 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Groupon during the fourth quarter valued at about $5,993,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Groupon Trading Down 0.4%

Shares of NASDAQ GRPN opened at $25.58 on Friday. The stock has a fifty day simple moving average of $17.97 and a two-hundred day simple moving average of $15.32. Groupon has a 1-year low of $9.17 and a 1-year high of $43.08. The firm has a market cap of $971.53 million, a price-to-earnings ratio of -9.80 and a beta of 0.23.

Groupon (NASDAQ:GRPN) last issued its earnings results on Thursday, May 7th. The coupon company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.30). The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $117.65 million. Analysts forecast that Groupon will post -0.16 EPS for the current year.

Groupon Company Profile

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.