Groupon (NASDAQ:GRPN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Groupon (NASDAQ:GRPN) from a sell rating to a hold rating in a research note released on Saturday.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Citigroup reaffirmed an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. Northland Securities set a $26.00 target price on Groupon in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $13.00 target price (up from $10.00) on shares of Groupon in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $24.00.

Groupon Stock Down 8.3%

Shares of NASDAQ:GRPN opened at $22.95 on Friday. Groupon has a 52 week low of $9.17 and a 52 week high of $35.18. The stock has a market capitalization of $933.38 million, a P/E ratio of -7.38 and a beta of 0.23. The firm has a fifty day simple moving average of $22.99 and a two-hundred day simple moving average of $17.15.

Groupon (NASDAQ:GRPN) last posted its earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $124.67 million during the quarter, compared to the consensus estimate of $127.09 million. On average, analysts expect that Groupon will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Groupon

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in Groupon in the 2nd quarter worth about $1,729,000. Hennion & Walsh Asset Management Inc. lifted its stake in Groupon by 13.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company’s stock worth $316,000 after purchasing an additional 1,553 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Groupon by 92.7% during the second quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock valued at $31,000 after buying an additional 625 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Groupon during the first quarter valued at approximately $2,416,000. Finally, Lombard Odier Asset Management Europe Ltd grew its stake in shares of Groupon by 24.1% during the first quarter. Lombard Odier Asset Management Europe Ltd now owns 102,118 shares of the coupon company’s stock valued at $1,215,000 after buying an additional 19,860 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Groupon Company Profile

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.