Groupon (NASDAQ:GRPN) Shares Gap Down – What’s Next?

Groupon, Inc. (NASDAQ:GRPN) shares gapped down before the market opened on Wednesday. The stock had previously closed at $18.84, but opened at $17.89. Groupon shares last traded at $18.02, with a volume of 269,673 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Groupon from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Northland Securities set a $30.00 price target on Groupon in a report on Monday, August 17th. Citigroup restated an “outperform” rating on shares of Groupon in a report on Tuesday, June 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Groupon in a research report on Friday, September 4th. Finally, The Goldman Sachs Group set a $16.00 price objective on shares of Groupon in a research report on Wednesday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $23.00.

Groupon Trading Down 3.3%

The stock’s 50 day moving average is $20.96 and its 200 day moving average is $19.13. The stock has a market capitalization of $740.55 million, a price-to-earnings ratio of -5.85 and a beta of 0.20.

Groupon (NASDAQ:GRPN) 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 analysts’ expectations of $127.09 million. On average, sell-side analysts anticipate that Groupon, Inc. will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Groupon by 92.7% during the second quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock worth $31,000 after buying an additional 625 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Groupon by 135.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,185 shares of the coupon company’s stock worth $56,000 after buying an additional 1,835 shares during the period. Royal Bank of Canada increased its holdings in 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 in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of 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 in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of Groupon by 10.1% during the second quarter. Headlands Technologies LLC now owns 15,054 shares of the coupon company’s stock valued at $362,000 after purchasing an additional 1,382 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Groupon Company Profile

Groupon, Inc operates a global e-commerce marketplace that connects consumers with local businesses and merchants. Through its website and mobile applications, the company offers discounts and promotions on experiences, dining, beauty and wellness, entertainment, travel, and other products and services.

Groupon’s platform enables merchants to reach new customers, promote their offerings, and manage digital marketing campaigns. Consumers can search for deals by location, category, and activity, while participating businesses use Groupon’s marketplace and promotional tools to support customer acquisition.

Founded in 2008, Groupon initially became known for its “daily deals” model and subsequently expanded into a broader local commerce marketplace.