The Goldman Sachs Group Cuts Groupon (NASDAQ:GRPN) Price Target to $10.00

Groupon (NASDAQ:GRPN) had its target price reduced by The Goldman Sachs Group from $17.00 to $10.00 in a report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the coupon company’s stock.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Groupon in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.00.

Groupon Price Performance

Shares of Groupon stock opened at $9.64 on Thursday. The business has a 50 day moving average of $13.87 and a 200 day moving average of $17.88. Groupon has a 52 week low of $9.17 and a 52 week high of $43.08. The company has a market cap of $392.73 million, a PE ratio of -4.55 and a beta of -0.02. The company has a quick ratio of 0.93, a current ratio of 0.98 and a debt-to-equity ratio of 4.16.

Groupon (NASDAQ:GRPN) last released its quarterly earnings results on Tuesday, March 10th. The coupon company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $132.71 million during the quarter, compared to the consensus estimate of $137.34 million. Groupon had a negative net margin of 16.76% and a negative return on equity of 661.64%. As a group, equities research analysts forecast that Groupon will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Groupon

Hedge funds have recently made changes to their positions in the company. Continental General Insurance Co. raised its holdings in Groupon by 28.3% in the second quarter. Continental General Insurance Co. now owns 2,929,832 shares of the coupon company’s stock worth $98,003,000 after purchasing an additional 647,100 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Groupon by 22.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,108,578 shares of the coupon company’s stock valued at $49,235,000 after buying an additional 383,277 shares in the last quarter. Marshall Wace LLP grew its position in shares of Groupon by 59.4% in the 2nd quarter. Marshall Wace LLP now owns 1,167,422 shares of the coupon company’s stock worth $39,050,000 after buying an additional 434,963 shares during the period. Bank of America Corp DE grew its position in shares of Groupon by 552.5% in the 2nd quarter. Bank of America Corp DE now owns 1,136,524 shares of the coupon company’s stock worth $38,017,000 after buying an additional 962,337 shares during the period. Finally, Tyro Capital Management LLC increased its stake in shares of Groupon by 6.8% in the 3rd quarter. Tyro Capital Management LLC now owns 1,091,095 shares of the coupon company’s stock worth $25,477,000 after acquiring an additional 69,378 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

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.