Groupon (NASDAQ:GRPN) Stock Price Up 6.5% – What’s Next?

Groupon, Inc. (NASDAQ:GRPN) shares were up 6.5% during mid-day trading on Wednesday . The stock traded as high as $27.83 and last traded at $27.7560. Approximately 631,609 shares were traded during trading, a decline of 61% from the average session volume of 1,636,078 shares. The stock had previously closed at $26.05.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GRPN shares. Wall Street Zen cut shares of Groupon from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Groupon in a report on Tuesday, June 9th. Northland Securities set a $26.00 price target on shares of Groupon in a research report on Wednesday, May 27th. The Goldman Sachs Group restated a “sell” rating and issued a $13.00 price target (up from $10.00) on shares of Groupon in a research note on Tuesday, May 12th. Finally, Citigroup reiterated an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.50.

Groupon Price Performance

The company has a market cap of $1.06 billion, a PE ratio of -10.69 and a beta of 0.23. The business’s 50 day moving average is $20.80 and its 200-day moving average is $16.16.

Groupon (NASDAQ:GRPN) last announced its quarterly earnings data on Thursday, May 7th. The coupon company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The firm had revenue of $117.20 million for the quarter, compared to analyst estimates of $117.65 million. As a group, sell-side analysts predict that Groupon, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in shares of Groupon by 92.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock valued at $31,000 after acquiring an additional 625 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Groupon in the third quarter valued at approximately $32,000. Johnson Financial Group Inc. acquired a new position in Groupon in the fourth quarter valued at approximately $35,000. Quarry LP increased its stake in Groupon by 48.1% in the third quarter. Quarry LP now owns 1,938 shares of the coupon company’s stock valued at $45,000 after purchasing an additional 629 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Groupon in the second quarter valued at approximately $69,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.