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Analysts Aren't Sure Why Groupon Stock Is Down

Analysts Aren't Sure Why Groupon Stock Is Down
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Groupon Inc (NASDAQ: 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, California.

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.


Latest Ratings for GRPN

Aug 2017BarclaysMaintainsUnderweight
Jul 2017Morgan StanleyMaintainsUnderweight
Jul 2017Bank of AmericaReinstatesUnderperformUnderperform

View More Analyst Ratings for GRPN
View the Latest Analyst Ratings

Posted-In: Ascendiant Capital B Riley Bank of America Global Technology Conference Evercore ISIAnalyst Color Exclusives Analyst Ratings Movers Best of Benzinga


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