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GRPN

Groupon

$5.01

0.11 (2.24%)

10:54
10/17/16
10/17
10:54
10/17/16
10:54

Groupon advances after Wedbush forecasts strong Q3 results

The shares of Groupon (GRPN) are rallying after Wedbush upgraded the stock to Outperform from Neutral, saying that the company's third quarter results should beat expectations. The online local commerce marketplace operator is scheduled to post its Q3 report after the close on October 26. STRONG TRAFFIC: Groupon's Q3 results should feature healthy customer acquisition metrics, driven by its "enhanced marketing efforts," wrote Wedbush analyst Aaron Turner. Third party data shows that visits to Groupon's North America sites jumped 40% last quarter, versus the same period a year earlier, Turner reported. That's up from a 20% year-over-year increase during the previous quarter, he noted. IMPROVED OFFERINGS: After conducting extensive checks on 44 U.S. cities, Turner says that Groupon's "local deal inventory" has surged 30% over the past eight months. By increasing the number of deals it offers, Groupon can raise its sales, Turner believes. He thinks that offering more deals is "critical" for Groupon's growth. VALUATION: There is a "large valuation discrepancy" between Groupon and other Internet companies, Turner stated. Groupon's valuation is low due to uncertainty about the progress of its growth initiatives, but those worries should ease after the company reports its Q3 results, the analyst stated. PRICE TARGET: Turner placed a $6.50 price target on the stock. PRICE ACTION: In morning trading, Groupon rose about 4% to $5.25 per share.

  • 26

    Oct

GRPN Groupon
$5.01

0.11 (2.24%)

09/29/16
BOSC
09/29/16
INITIATION
BOSC
Neutral
Groupon initiated with a Neutral at Boenning & Scattergood
Boenning & Scattergood analyst Murali Sankar initiated Groupon with a Neutral due to valuation.
09/29/16
09/29/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Owens Corning (OC) initiated with a Market Perform at Wells Fargo. 2. Kate Spade (KATE) was initiated with an Outperform at CLSA, while the firm initiated Coach (COH) with a Buy and Michael Kors (KORS) with a Sell. 3. RetailMeNot (SALE) and Groupon (GRPN) initiated with a Neutral at Boenning & Scattergood. 4. Carnival (CCL) initiated with a Hold at Deutsche Bank. 5. D.R. Horton (DHI) initiated with an Outperform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/16
WEDB
10/17/16
UPGRADE
Target $6.5
WEDB
Outperform
Groupon upgraded to Outperform from Neutral at Wedbush
Wedbush analyst Aaron Turner upgraded Groupon to Outperform saying he expects the company's "large valuation discrepancy" relative to peers to close following its Q3 earnings report. Accelerating site traffic growth and improving deal inventory should drive better than expected Q3 results for Groupon, Turner tells investors in a research note. He thinks investors will "recalibrate their growth expectations" for the company post the results and upped his price target for the shares to $6.50 from $4.50.
10/17/16
10/17/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) upgraded to Market Perform from Underperform at BMO Capital with analyst James Fotheringham. 2. AMD (AMD) upgraded to Perform from Underperform at Oppenheimer with analyst Rick Schafer citing lower balance sheet risk and improved near-term sales trends ahead of the company's third quarter results. 3. Groupon (GRPN) upgraded to Outperform from Neutral at Wedbush with analyst Aaron Turner saying he expects the company's "large valuation discrepancy" relative to peers to close following its third quarter earnings report. 4. Michael Kors KORS) upgraded to Mixed from Negative at OTR Global. 5. PNC Financial (PNC) upgraded to Buy from Hold at Argus with analyst Stephen Biggar saying PNC is well positioned to benefit from rising rates and it is making progress on a range of strategic initiatives, including expansion in the Southeast and in the Chicago area, where increased brand awareness has led to good growth in both retail and commercial banking. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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