Groupon Inc (GRPN) is Upgraded by Wedbush to Outperform, Raises Price Target to $ 6.50

Groupon Inc (GRPN) was Upgraded by Wedbush to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 6.50 from a previous price target of $4.50 . Earlier the firm had a rating of “Neutral ” on the company shares. Wedbush advised their investors in a research report released on Oct 17, 2016.

Many Wall Street Analysts have commented on Groupon Inc. Loop Capital Initiated Groupon Inc on Sep 14, 2016 to “Hold”, Price Target of the shares are set at $6.Company shares were Reiterated by Wedbush on Jul 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 4.50 from a previous price target of $4 .Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Underperform”, Firm has raised the Price Target to $ 4 from a previous price target of $3 .

On the company’s financial health, Groupon Inc reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.02. The company had revenue of $756.03 million for the quarter, compared to analysts expectations of $710.94 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Groupon Inc opened for trading at $4.94 and hit $5.02 on the upside on Friday, eventually ending the session at $5.01, with a gain of 2.24% or 0.11 points. The heightened volatility saw the trading volume jump to 42,10,482 shares. Company has a market cap of $2,879 M.

In a different news, on Sep 9, 2016, Dane A Drobny (General Counsel and Secretary) sold 30,798 shares at $5.48 per share price. According to the SEC, on Aug 24, 2016, Brian Stevens (Chief Accounting Officer) sold 15,000 shares at $5.54 per share price. On Aug 15, 2016, Peter J Barris (director) sold 730,349 shares at $5.69 per share price, according to the Form-4 filing with the securities and exchange commission.

Groupon Inc. operates online local commerce marketplaces world over that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America which represents the United States and Canada; EMEA which consists of Europe the Middle East and Africa and international operations (Rest of World). The Company offers deals on goods and services in three categories: Local Deals (Local) Groupon Goods (Goods) and Groupon Getaways (Travel). The Company’s Local category includes deals with local merchants national merchants and local events. The Company’s Goods transactions in North America are primarily direct revenue deals. Through its Getaways category the Company features travel offers at both discounted and market rates including hotels airfare and package deals covering both domestic and international travel. Its deal offerings are accessed directly through its Websites mobile applications and search engines.

Groupon Inc

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