Analysts Aren't Sure Why Groupon Stock Is Down
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
|Jan 2017||RBC Capital||Upgrades||Underperform||Sector Perform|
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