Groupon (NASDAQ:GRPN) Trading Up 3.9% on Analyst Upgrade

Groupon, Inc. (NASDAQ:GRPN)’s share price was up 3.9% on Friday after Ascendiant Capital Markets raised their price target on the stock from $42.00 to $70.00. Ascendiant Capital Markets currently has a buy rating on the stock. Groupon traded as high as $46.99 and last traded at $46.54. Approximately 16,964 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,047,181 shares. The stock had previously closed at $44.79.

Several other research firms have also recently weighed in on GRPN. JPMorgan Chase & Co. raised shares of Groupon from an “underweight” rating to a “neutral” rating and set a $48.00 price target on the stock in a report on Monday, March 8th. Barclays increased their target price on shares of Groupon from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Monday, May 10th. Wedbush increased their target price on shares of Groupon from $29.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 3rd. Finally, Credit Suisse Group increased their target price on shares of Groupon from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.44.

Several hedge funds and other institutional investors have recently bought and sold shares of GRPN. Penserra Capital Management LLC acquired a new stake in shares of Groupon during the 4th quarter worth approximately $50,301,000. SummerHaven Investment Management LLC acquired a new stake in Groupon in the fourth quarter valued at approximately $912,000. Parian Global Management LP acquired a new stake in Groupon in the fourth quarter valued at approximately $16,718,000. The Manufacturers Life Insurance Company boosted its position in Groupon by 2,995.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 420,252 shares of the coupon company’s stock valued at $15,968,000 after buying an additional 406,677 shares in the last quarter. Finally, Beaconlight Capital LLC acquired a new stake in Groupon in the first quarter valued at approximately $12,015,000. Institutional investors and hedge funds own 69.85% of the company’s stock.

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 6.74. The company has a market cap of $1.36 billion, a PE ratio of -20.83 and a beta of 2.88. The business’s 50-day moving average is $47.71.

Groupon (NASDAQ:GRPN) last issued its earnings results on Thursday, May 6th. The coupon company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $1.35. Groupon had a negative net margin of 4.58% and a negative return on equity of 25.13%. The firm had revenue of $263.82 million for the quarter, compared to analyst estimates of $221.87 million. During the same quarter last year, the business posted ($1.63) earnings per share. The company’s quarterly revenue was down 29.5% on a year-over-year basis. On average, equities analysts anticipate that Groupon, Inc. will post 0.22 earnings per share for the current year.

About Groupon (NASDAQ:GRPN)

Groupon, Inc operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants; and first-party goods inventory. It serves customers through its mobile applications and websites.

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