Groupon, Inc. (NASDAQ:GRPN – Get Free Report)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.03 and traded as high as $18.99. Groupon shares last traded at $18.95, with a volume of 1,134,126 shares changing hands.
Wall Street Analyst Weigh In
A number of analysts have issued reports on GRPN shares. Citigroup reissued an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $22.00 price objective on shares of Groupon in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Groupon from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Groupon in a research report on Friday, September 4th. Finally, Northland Securities set a $30.00 target price on shares of Groupon in a report on Monday, August 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $26.00.
Get Our Latest Research Report on GRPN
Groupon Stock Down 0.1%
Groupon (NASDAQ:GRPN – Get Free Report) last posted its earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $124.67 million during the quarter, compared to analyst estimates of $127.09 million. As a group, equities research analysts expect that Groupon, Inc. will post -0.14 EPS for the current fiscal year.
Institutional Trading of Groupon
Several large investors have recently bought and sold shares of GRPN. California State Teachers Retirement System lifted its position in shares of Groupon by 6,724.3% during the second quarter. California State Teachers Retirement System now owns 1,712,759 shares of the coupon company’s stock worth $41,209,000 after purchasing an additional 1,687,661 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Groupon by 552.5% in the second quarter. Bank of America Corp DE now owns 1,136,524 shares of the coupon company’s stock valued at $38,017,000 after purchasing an additional 962,337 shares during the period. Millennium Management LLC grew its holdings in Groupon by 749.0% during the 4th quarter. Millennium Management LLC now owns 791,498 shares of the coupon company’s stock valued at $13,938,000 after purchasing an additional 698,270 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Groupon by 464.1% during the 1st quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company’s stock valued at $7,371,000 after purchasing an additional 509,600 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Groupon by 22.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,108,578 shares of the coupon company’s stock valued at $49,235,000 after purchasing an additional 383,277 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
About Groupon
Groupon, Inc operates an online marketplace that connects subscribers with local merchants offering discounted goods, services and experiences. Through its website and mobile applications, Groupon provides time-limited deals across categories such as restaurants, travel, beauty and wellness, home services, and consumer products. Merchants partner with Groupon to attract new customers and drive foot traffic, leveraging the platform’s targeted marketing tools and large subscriber base to promote special offers and vouchers.
Founded in Chicago in 2008 by Andrew Mason, Eric Lefkofsky and Brad Keywell, Groupon pioneered the daily-deals model, quickly growing its user community and merchant network.
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