Groupon (NASDAQ:GRPN) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Groupon shares crossed above their 200-day moving average of $18.29, reaching $19.68 before trading at $19.33, up 3.1%.
• Analyst sentiment remains mixed to negative: Groupon has an average “Reduce” rating and a consensus price target of $26, with ratings ranging from Buy to Sell.
• Groupon beat quarterly EPS expectations ($0.04 loss versus a projected $0.06 loss), though revenue of $124.67 million fell short of estimates; institutional investors own 90.05% of the stock.

Groupon, Inc. (NASDAQ:GRPN - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $18.29 and traded as high as $19.68. Groupon shares last traded at $19.33, with a volume of 1,370,153 shares changing hands.

Wall Street Analyst Weigh In

GRPN has been the subject of several analyst reports. The Goldman Sachs Group reissued a "sell" rating and issued a $22.00 target price on shares of Groupon in a research note on Monday, August 10th. Citigroup reaffirmed an "outperform" rating on shares of Groupon in a research note on Tuesday, June 9th. Wall Street Zen upgraded shares of Groupon from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Northland Securities set a $30.00 target price on Groupon in a research note on Monday, August 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Groupon in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Groupon presently has an average rating of "Reduce" and a consensus price target of $26.00.

Groupon Trading Up 3.1%

The stock's 50-day moving average price is $22.81 and its 200-day moving average price is $18.29. The company has a market capitalization of $786.15 million, a P/E ratio of -6.22 and a beta of 0.24.

Groupon (NASDAQ:GRPN - Get Free Report) last posted its earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The firm had revenue of $124.67 million for the quarter, compared to analyst estimates of $127.09 million. Sell-side analysts expect that Groupon, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Groupon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in Groupon by 64.2% during the first quarter. Bank of America Corp DE now owns 636,480 shares of the coupon company's stock worth $7,574,000 after buying an additional 248,928 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Groupon by 464.1% in the first quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company's stock worth $7,371,000 after buying an additional 509,600 shares during the period. Dimensional Fund Advisors LP grew its position in Groupon by 28.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 580,873 shares of the coupon company's stock worth $6,910,000 after purchasing an additional 128,097 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Groupon by 37.0% during the first quarter. SG Americas Securities LLC now owns 270,682 shares of the coupon company's stock valued at $3,221,000 after buying an additional 73,136 shares in the last quarter. Finally, Potomac Capital Management Inc. purchased a new position in Groupon during the 4th quarter valued at about $2,633,000. 90.05% of the stock is currently owned by institutional investors.

About Groupon

Groupon, Inc NASDAQ: GRPN operates a digital marketplace that connects consumers with local merchants and service providers. Through its website and mobile applications, the company offers discounted deals and promotions for restaurants, entertainment, travel, beauty and wellness, automotive services, home services, and other local experiences.

Groupon's platform is designed to help merchants attract new customers, promote available services and manage marketing offers, while giving consumers access to discounts and curated experiences in their communities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.