Groupon Inc. (GRPN)

[FUNMAN]

I'm just saying this Goldman "boost" could be a problem

GRPN Right now:

Price $5.37

Volume(Heavy Day)
18,878,621

Goldman Sachs Group Inc. Boosts Groupon Inc. (GRPN) Price Target to $4.40

August 2nd, 2016

Groupon Inc. (NASDAQ:GRPN) had its price objective lifted by Goldman Sachs Group Inc. from $4.10 to $4.40 in a research note issued to investors on Thursday. They currently have a neutral rating on the coupon company’s stock.

Shares of Groupon (NASDAQ:GRPN) traded up 2.20% during midday trading on Thursday, reaching $5.10. 21,330,219 shares of the company’s stock traded hands. The firm’s market capitalization is $2.93 billion. Groupon has a one year low of $2.15 and a one year high of $5.28. The stock’s 50-day moving average price is $3.55 and its 200 day moving average price is $3.66.

Groupon (NASDAQ:GRPN) last posted its earnings results on Wednesday, July 27th. The coupon company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. During the same quarter in the prior year, the company posted $0.02 EPS. The company had revenue of $756.03 million for the quarter, compared to the consensus estimate of $710.94 million. Groupon’s revenue was up 2.4% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. Vetr cut shares of Groupon from a strong-buy rating to a buy rating and set a $5.12 price objective on the stock. in a research note on Tuesday, April 26th. Macquarie increased their price objective on shares of Groupon from $3.50 to $5.00 and gave the stock an outperform rating in a research note on Friday, April 15th. Jefferies Group reiterated a hold rating on shares of Groupon in a research note on Monday, July 11th. Brean Capital started coverage on shares of Groupon in a research note on Wednesday, June 22nd. They issued a buy rating on the stock. Finally, Morgan Stanley increased their price objective on shares of Groupon from $3.00 to $4.70 and gave the stock an equal weight rating in a research note on Thursday, July 28th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $6.44.

In related news, CAO Brian Stevens sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $3.50, for a total value of $35,000.00. Following the completion of the sale, the chief accounting officer now directly owns 117,170 shares in the company, valued at $410,095. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter J. Barris sold 640,045 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $3.22, for a total value of $2,060,944.90. Following the completion of the sale, the director now owns 116,923 shares of the company’s stock, valued at $376,492.06. The disclosure for this sale can be found here.

A number of hedge funds recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of Groupon by 1.9% in the first quarter. Renaissance Technologies LLC now owns 12,645,900 shares of the coupon company’s stock worth $50,457,000 after buying an additional 240,700 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Groupon by 16.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,501,793 shares of the coupon company’s stock worth $4,611,000 after buying an additional 216,474 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Groupon by 3.3% in the first quarter. Geode Capital Management LLC now owns 2,913,437 shares of the coupon company’s stock worth $11,624,000 after buying an additional 94,318 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Groupon by 113,606.3% in the first quarter. Acadian Asset Management LLC now owns 1,023,357 shares of the coupon company’s stock worth $4,084,000 after buying an additional 1,022,457 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Groupon by 3.0% in the fourth quarter. Swiss National Bank now owns 634,766 shares of the coupon company’s stock worth $1,949,000 after buying an additional 18,400 shares in the last quarter.

Groupon, Inc operates online local commerce marketplaces throughout 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, the Middle East and Africa, and international operations (Rest of World).