Groupon’s (GRPN) Buy Rating Reaffirmed at Piper Jaffray Companies

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.

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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.

About Groupon

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).

Analyst Recommendations for Groupon (NASDAQ:GRPN)

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