Piper Jaffray Companies reaffirmed their buy rating on shares of Groupon, Inc. (NASDAQ:GRPN) in a research report sent to investors on Thursday. Piper Jaffray Companies currently has a $5.50 price target on the coupon company’s stock.
A number of other brokerages also recently issued reports on GRPN. UBS AG reissued a sell rating and set a $3.10 price target (up from $2.85) on shares of Groupon in a report on Thursday, August 3rd. B. Riley reiterated a buy rating and issued a $5.50 target price on shares of Groupon in a research report on Thursday, August 3rd. Cowen and Company reiterated a sell rating and issued a $3.50 target price on shares of Groupon in a research report on Thursday, August 3rd. Credit Suisse Group reiterated a neutral rating on shares of Groupon in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Groupon from a sell rating to a hold rating in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $4.59.
Shares of Groupon (NASDAQ:GRPN) traded up 0.993% during midday trading on Thursday, reaching $4.575. 3,658,921 shares of the company traded hands. Groupon has a 1-year low of $2.90 and a 1-year high of $5.53. The company’s market capitalization is $2.54 billion. The company has a 50 day moving average price of $4.18 and a 200 day moving average price of $3.77.
Groupon (NASDAQ:GRPN) last released its quarterly earnings data on Wednesday, August 2nd. The coupon company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.06. The business had revenue of $662.60 million for the quarter, compared to the consensus estimate of $668.84 million. Groupon had a negative net margin of 4.16% and a negative return on equity of 13.08%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, analysts expect that Groupon will post $0.12 earnings per share for the current year.
In other news, Director Peter J. Barris sold 562,719 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 168,887 shares of the company’s stock, valued at $668,792.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Stevens sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $4.04, for a total value of $40,400.00. Following the transaction, the chief accounting officer now directly owns 215,696 shares in the company, valued at $871,411.84. The disclosure for this sale can be found here. Insiders sold 2,847,719 shares of company stock worth $12,252,767 over the last ninety days. 23.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Groupon by 177.5% during the first quarter. Wells Fargo & Company MN now owns 510,797 shares of the coupon company’s stock valued at $2,008,000 after buying an additional 326,756 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Groupon by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,424,065 shares of the coupon company’s stock valued at $5,596,000 after purchasing an additional 74,298 shares during the period. Swiss National Bank boosted its position in shares of Groupon by 2.1% in the 1st quarter. Swiss National Bank now owns 708,866 shares of the coupon company’s stock valued at $2,786,000 after purchasing an additional 14,800 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Groupon by 21.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 294,562 shares of the coupon company’s stock valued at $1,158,000 after purchasing an additional 51,657 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of Groupon in the 1st quarter valued at $108,000. 56.08% of the stock is currently owned by institutional investors.
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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