Groupon (NASDAQ:GRPN) Shares Gap Down – Here’s Why

Shares of Groupon, Inc. (NASDAQ:GRPN) gapped down before the market opened on Wednesday. The stock had previously closed at $18.84, but opened at $17.89. Groupon shares last traded at $18.02, with a volume of 269,673 shares traded.

Analyst Upgrades and Downgrades

GRPN has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $16.00 price target on shares of Groupon in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Groupon in a report on Friday, September 4th. Northland Securities set a $30.00 target price on shares of Groupon in a research note on Monday, August 17th. Finally, Wall Street Zen upgraded Groupon from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $23.00.

Groupon Trading Up 3.7%

The business’s 50-day moving average is $20.61 and its two-hundred day moving average is $19.24. The firm has a market cap of $777.61 million, a P/E ratio of -6.15 and a beta of 0.20.

Groupon (NASDAQ:GRPN) last issued its 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 business had revenue of $124.67 million during the quarter, compared to the consensus estimate of $127.09 million. On average, analysts anticipate that Groupon, Inc. will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in Groupon by 464.1% in the 1st quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company’s stock valued at $7,371,000 after purchasing an additional 509,600 shares during the last quarter. Bank of America Corp DE grew its position in Groupon by 64.2% in the 1st quarter. Bank of America Corp DE now owns 636,480 shares of the coupon company’s stock worth $7,574,000 after purchasing an additional 248,928 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Groupon in the first quarter valued at approximately $2,416,000. Dimensional Fund Advisors LP raised its holdings in shares of Groupon by 28.3% during the first quarter. Dimensional Fund Advisors LP now owns 580,873 shares of the coupon company’s stock valued at $6,910,000 after buying an additional 128,097 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Groupon by 37.0% during the first quarter. SG Americas Securities LLC now owns 270,682 shares of the coupon company’s stock valued at $3,221,000 after buying an additional 73,136 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Groupon Company Profile

Groupon, Inc operates a global e-commerce marketplace that connects consumers with local businesses and merchants. Through its website and mobile applications, the company offers discounts and promotions on experiences, dining, beauty and wellness, entertainment, travel, and other products and services.

Groupon’s platform enables merchants to reach new customers, promote their offerings, and manage digital marketing campaigns. Consumers can search for deals by location, category, and activity, while participating businesses use Groupon’s marketplace and promotional tools to support customer acquisition.

Founded in 2008, Groupon initially became known for its “daily deals” model and subsequently expanded into a broader local commerce marketplace.