Groupon Inc. (GRPN)

[FUNMAN]

Barclays negative on Groupon

Groupon (NASDAQ:GRPN) swings lower after Barclays starts off coverage on the tech stock with an Underweight rating.

"After rapid growth in FY11-FY13, driving by heavy investment in subscriber acquisition and international expansion, the company has struggled to generate profitable growth over the last few years," warns Barclays.

"The long-term value proposition of Groupon to consumers is also less certain at this time," reads the note.

GRPN -1.52% premarket to $3.90 vs. a 52-week range of $2.92 to $5.94 and Barclay's price target of $3.60.