Groupon (NASDAQ:GRPN) Stock Price Up 11.8% – Should You Buy?

Groupon, Inc. (NASDAQ:GRPN)’s share price traded up 11.8% during trading on Wednesday. The stock traded as high as $16.83 and last traded at $17.3360. 125,614 shares were traded during trading, a decline of 91% from the average daily volume of 1,461,504 shares. The stock had previously closed at $15.50.

Analyst Ratings Changes

A number of research analysts have weighed in on GRPN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Groupon in a research report on Friday, September 4th. The Goldman Sachs Group set a $16.00 price target on Groupon in a research note on Wednesday, October 7th. Wall Street Zen raised Groupon from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Northland Securities set a $30.00 price target on Groupon in a research report on Monday, August 17th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $23.00.

Groupon Price Performance

The firm has a market capitalization of $711.93 million, a price-to-earnings ratio of -5.64 and a beta of 0.29. The firm has a 50 day moving average price of $18.49 and a 200-day moving average price of $17.66.

Groupon (NASDAQ:GRPN) last released its earnings results on Thursday, August 6th. The coupon company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $124.67 million for the quarter, compared to analyst estimates of $127.09 million. Equities research analysts predict that Groupon, Inc. will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Groupon

Several institutional investors have recently added to or reduced their stakes in GRPN. Commonwealth Equity Services LLC boosted its stake in Groupon by 22.4% in the third quarter. Commonwealth Equity Services LLC now owns 21,989 shares of the coupon company’s stock valued at $434,000 after acquiring an additional 4,026 shares in the last quarter. Inspire Investing LLC increased its position in shares of Groupon by 9.7% during the third quarter. Inspire Investing LLC now owns 31,801 shares of the coupon company’s stock worth $628,000 after purchasing an additional 2,804 shares in the last quarter. Corient Private Wealth LP acquired a new stake in shares of Groupon during the second quarter worth about $514,000. AXQ Capital LP purchased a new stake in shares of Groupon in the 2nd quarter valued at about $543,000. Finally, Headlands Technologies LLC boosted its position in shares of Groupon by 10.1% in the 2nd quarter. Headlands Technologies LLC now owns 15,054 shares of the coupon company’s stock valued at $362,000 after purchasing an additional 1,382 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Groupon Company Profile

Groupon, Inc (NASDAQ: GRPN) operates a global e-commerce marketplace that connects consumers with local merchants, service providers and businesses. Through its website and mobile applications, the company offers customers promotions and vouchers for experiences, dining, beauty and wellness services, entertainment, travel and other locally focused activities.

Groupon also provides deals on selected products and merchandise, giving participating businesses a platform to reach new customers and generate demand.