Groupon, Inc. (NASDAQ:GRPN – Get Free Report)’s share price was down 6.9% during mid-day trading on Monday. The stock traded as low as $20.19 and last traded at $19.8210. 271,686 shares were traded during trading, a decline of 82% from the average daily volume of 1,548,750 shares. The stock had previously closed at $21.30.
Analysts Set New Price Targets
GRPN has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $22.00 target price on shares of Groupon in a research report on Monday, August 10th. Wall Street Zen raised shares of Groupon from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Northland Securities set a $30.00 target price on Groupon in a research report on Monday, August 17th. Citigroup reissued an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Groupon in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $26.00.
View Our Latest Research Report on Groupon
Groupon Trading Down 7.6%
Groupon (NASDAQ:GRPN – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $124.67 million for the quarter, compared to analyst estimates of $127.09 million. As a group, equities analysts expect that Groupon, Inc. will post -0.14 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Groupon by 92.7% in the second quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock valued at $31,000 after buying an additional 625 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Groupon by 135.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,185 shares of the coupon company’s stock valued at $56,000 after purchasing an additional 1,835 shares during the period. Royal Bank of Canada lifted its stake in shares of Groupon by 10.6% in the 1st quarter. Royal Bank of Canada now owns 7,618 shares of the coupon company’s stock valued at $90,000 after purchasing an additional 731 shares during the period. Bleakley Financial Group LLC bought a new stake in Groupon in the first quarter worth approximately $236,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Groupon by 13.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company’s stock valued at $316,000 after buying an additional 1,553 shares during the period. Institutional investors own 90.05% of the company’s stock.
About Groupon
Groupon, Inc (NASDAQ: GRPN) operates a digital marketplace that connects consumers with local merchants and service providers. Through its website and mobile applications, the company offers discounted deals and promotions for restaurants, entertainment, travel, beauty and wellness, automotive services, home services, and other local experiences.
Groupon’s platform is designed to help merchants attract new customers, promote available services and manage marketing offers, while giving consumers access to discounts and curated experiences in their communities.
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