Groupon (GRPN) Given “Overweight” Rating by Piper Jaffray Companies Analysts
Groupon (NASDAQ:GRPN) had their “overweight” rating reaffirmed by Equities research analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. They presently have a $6.25 target price on the coupon company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 6.66% from the stock’s previous close.
Several other equities analysts also recently commented on GRPN. Wedbush restated a “positive” rating and issued a $4.08 price target (down from $4.50) on shares of Groupon in a research note on Wednesday, August 23rd. DA Davidson initiated coverage on shares of Groupon in a research note on Friday, September 22nd. They issued a “buy” rating and a $5.00 price target on the stock. Vetr upgraded shares of Groupon from a “hold” rating to a “strong-buy” rating and set a $6.58 price target on the stock in a research note on Monday, September 25th. Goldman Sachs Group restated a “sell” rating and issued a $4.70 price target on shares of Groupon in a research note on Wednesday, October 11th. Finally, Cowen upgraded shares of Groupon from an “underperform” rating to a “market perform” rating and upped their price target for the company from $2.90 to $5.38 in a research note on Monday, October 16th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $4.99.
Groupon (NASDAQ GRPN) traded up $0.05 during mid-day trading on Tuesday, hitting $5.86. 6,890,800 shares of the company traded hands, compared to its average volume of 8,642,082. 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 has a fifty-two week low of $2.90 and a fifty-two week high of $5.99.
In other news, Director Eric P. Lefkofsky sold 1,500,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $5.77, for a total value of $8,655,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Stevens sold 20,000 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $5.71, for a total transaction of $114,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 222,354 shares of the company’s stock, valued at approximately $1,269,641.34. The disclosure for this sale can be found here. Insiders have sold 1,570,000 shares of company stock valued at $9,023,950 in the last ninety days. 23.40% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Aperio Group LLC lifted its holdings 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 worth $111,000 after acquiring an additional 1,268 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in shares of Groupon by 2.0% in the second quarter. Suntrust Banks Inc. now owns 65,767 shares of the coupon company’s stock worth $252,000 after acquiring an additional 1,272 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Groupon by 1.9% in the second quarter. Voya Investment Management LLC now owns 152,428 shares of the coupon company’s stock worth $585,000 after acquiring an additional 2,911 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Groupon by 1.4% in the second quarter. Balyasny Asset Management LLC now owns 416,325 shares of the coupon company’s stock worth $1,599,000 after acquiring an additional 5,821 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Groupon by 14.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,487 shares of the coupon company’s stock worth $225,000 after acquiring an additional 7,407 shares during the last quarter. 60.04% of the stock is owned by hedge funds and other institutional investors.
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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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