Groupon (NASDAQ:GRPN) Given New $23.00 Price Target at Credit Suisse Group

Groupon (NASDAQ:GRPNGet Rating) had its price objective cut by analysts at Credit Suisse Group from $29.00 to $23.00 in a note issued to investors on Tuesday, The Fly reports. Credit Suisse Group’s price target suggests a potential upside of 46.87% from the company’s previous close.

A number of other equities research analysts have also recently commented on GRPN. Ascendiant Capital Markets dropped their price objective on shares of Groupon from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 24th. StockNews.com started coverage on shares of Groupon in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Barclays dropped their price objective on shares of Groupon from $23.00 to $20.00 in a research note on Wednesday, March 2nd. Finally, Wedbush dropped their price objective on shares of Groupon from $30.00 to $22.00 in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.00.

Shares of NASDAQ:GRPN opened at $15.66 on Tuesday. Groupon has a twelve month low of $14.91 and a twelve month high of $49.85. The stock has a 50 day simple moving average of $19.10. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The firm has a market cap of $468.45 million, a P/E ratio of 4.33 and a beta of 2.11.

Groupon (NASDAQ:GRPNGet Rating) last issued its quarterly earnings results on Monday, May 9th. The coupon company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.06. Groupon had a net margin of 12.27% and a return on equity of 9.04%. The company had revenue of $153.30 million for the quarter, compared to the consensus estimate of $165.29 million. During the same quarter in the prior year, the company earned $0.06 EPS. Groupon’s quarterly revenue was down 41.9% on a year-over-year basis. On average, research analysts anticipate that Groupon will post -0.38 EPS for the current year.

In related news, insider Jan Barta purchased 57,209 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The shares were purchased at an average price of $19.90 per share, with a total value of $1,138,459.10. Following the purchase, the insider now owns 1,187,500 shares of the company’s stock, valued at $23,631,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 1,061,833 shares of company stock worth $21,103,685 in the last three months. 16.20% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP acquired a new stake in Groupon in the 3rd quarter valued at $25,000. Advisor Group Holdings Inc. lifted its holdings in Groupon by 113.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,444 shares of the coupon company’s stock valued at $55,000 after purchasing an additional 1,300 shares in the last quarter. Royal Bank of Canada lifted its holdings in Groupon by 12.7% in the 3rd quarter. Royal Bank of Canada now owns 3,370 shares of the coupon company’s stock valued at $77,000 after purchasing an additional 381 shares in the last quarter. Schroder Investment Management Group purchased a new position in Groupon in the 3rd quarter valued at $91,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Groupon by 13.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,683 shares of the coupon company’s stock valued at $108,000 after purchasing an additional 560 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Groupon Company Profile (Get Rating)

Groupon, Inc, together with its subsidiaries, operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants; and first-party goods inventory. It serves customers through its mobile applications and websites.

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