Groupon Inc GRPN traded down nearly 4 percent on Tuesday on no apparent catalyst.
In a series of interviews, analysts at Janney Montgomery Scott, B. Riley & Co, Sterne Agee CRT, Ascendiant Capital and Evercore ISI said they struggled to attribute a specific reason behind the stock's movement.
Groupon closed the day at $6.03, down $0.25.
Of note, Groupon will present at Wednesday's Bank of America Merrill Lynch 2015 Global Technology Conference. The company is scheduled to hit the stage around 10:45 am PT, at The Ritz-Carlton Hotel in San Francisco, CA.
In a report published on April 28, Tom Forte of Brean Capital said Groupon's stock price may present a buying opportunity. The firm holds a price target of $11 on shares. "Groupon operates the 10th largest e-commerce platform, according to IDC, and connects 53.9MM active customers with more than 950,000 merchants (since its inception)," the analyst wrote at the time.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.