- The stock price of Groupon Inc (NASDAQ: GRPN) is trading at over 30% during intraday trading. This is why it happened.
The stock price of Groupon Inc (NASDAQ: GRPN) is trading at over 30% during intraday trading as of 3:07 PM ET. Investors are responding to a number of bullish investor research reports.
Last week, Groupon had posted a surprise Q4 profit. So UBS analyst Eric Sheridan increased the price target on Groupon to $55 from $47 and maintained a “Buy” rating on the shares. The $55 price target imputed a 26.7% upside to the previous close.
JPMorgan analyst Douglas Anmuth noted that even though Groupon’s local results have been choppy, the six-month inventory test was successful on the supply and demand side of the company with inventory being up 65%.
Anmuth is expecting Groupon to scale its inventory by removing the repeat deal restrictions and by rolling out offers across beauty and wellness merchants.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
