Groupon, Inc. (GRPN) Upgraded by Zacks Investment Research to “Strong-Buy”
Groupon, Inc. (NASDAQ:GRPN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $6.25 price objective on the coupon company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.71% from the stock’s previous close.
According to Zacks, “Groupon’s third-quarter 2017 results reflected declining revenues from the year-ago quarter negatively impacted by its streamlining activities. However, gross profit is improving due to such initiatives. The company is benefiting from its new offering Groupon+. Management noted that its integration with Mastercard is complete, which is a further positive. We note that the stock has outperformed the industry on a year-to-date basis. Additionally, the company’s partnership with Grubhub and ongoing brand awareness programs are also anticipated to boost revenues. However, reduced international footprint will continue to hurt top-line growth at least in the near term. Moreover, intensifying competition is a signficant headwind.”
Other equities analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $5.50 target price on shares of Groupon in a report on Tuesday, August 8th. TheStreet upgraded Groupon from a “d” rating to a “c-” rating in a report on Thursday. DA Davidson reiterated a “buy” rating and issued a $6.50 target price on shares of Groupon in a report on Thursday. Bank of America Corporation reiterated an “underperform” rating and issued a $3.50 target price on shares of Groupon in a report on Friday, July 21st. Finally, Wedbush reiterated a “positive” rating and issued a $4.08 target price (down previously from $4.50) on shares of Groupon in a report on Wednesday, August 23rd. Seven investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $4.86.
Shares of Groupon (GRPN) traded up $0.08 on Monday, hitting $5.55. The stock had a trading volume of 6,133,685 shares, compared to its average volume of 9,372,605. Groupon has a one year low of $2.90 and a one year high of $5.49. 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 earnings results on Wednesday, November 1st. The coupon company reported $0.01 earnings per share for the quarter. The company had revenue of $634.46 million for the quarter, compared to the consensus estimate of $642.62 million. Groupon had a negative return on equity of 1.47% and a negative net margin of 2.97%. The firm’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) EPS. sell-side analysts expect that Groupon will post -0.04 EPS for the current fiscal year.
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In other news, Director Peter J. Barris sold 562,719 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $3.96, for a total transaction of $2,228,367.24. Following the completion of the transaction, the director now directly owns 168,887 shares in the company, valued at $668,792.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James Sullivan sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $4.90, for a total value of $122,500.00. Following the transaction, the insider now owns 353,524 shares of the company’s stock, valued at $1,732,267.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,872,719 shares of company stock valued at $12,375,267. Corporate insiders own 23.40% of the company’s stock.
Several hedge funds have recently modified their holdings of GRPN. Karp Capital Management Corp acquired a new position in shares of Groupon during the first quarter worth approximately $108,000. Aperio Group LLC raised its stake 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 valued at $111,000 after purchasing an additional 1,268 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Groupon in the second quarter valued at $116,000. Prudential Financial Inc. raised its stake in shares of Groupon by 157.7% in the second quarter. Prudential Financial Inc. now owns 31,713 shares of the coupon company’s stock valued at $122,000 after purchasing an additional 19,408 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Groupon in the second quarter valued at $122,000. Institutional investors own 57.10% 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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