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Groupon Stock Price Bounces on Upgrade

By  +Follow September 19, 2013 10:53AM
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Online deal website Groupon (GRPN) was up over 4 percent on premarket trading and kept that momentum, with gains approaching 9 percent by early afternoon. The spike can most likely be attributed to a recent upgrade from analysts at Stifel Financial Corp. ($SF) who upgraded the stock from Hold to Buy.

Analyst Upgrade Drives Gains

Stifel cited three primary reasons for their upgrade for their newfound optimism: accelerated growth at core “local” businesses in the United Kingdom with other European markets holding steady, the company’s status as a leader in mobile commerce and its “continued shift of usage toward app-based e-commerce,” and improved margins with more efficient operations under co-founder and CEO Eric Lefkosky’s management team.

Groupon buys SideTour

The upgrade comes on the heels of news on Sept. 18 that Groupon would be acquiring New York-based travel daily deals site SideTour. SideTour was built around enabling small groups of people to purchase tickets to local cultural events, helping them explore their city. Details of the deal were not disclosed, but co-founder and CEO of SideTour Vipin Goyal said that the deal would allow his company to “reach so many more people than we ever could on our own.” This was the second such acquisition for Groupon in the last two weeks as it announced the purchase of European travel website Blink on September 9.

Stock Market News Improving for Groupon since Mason Ouster

Anyone who’s held Groupon’s stock since the company’s IPO almost two years ago might want to title their wild ride “How Not Green Was My Valley.” After debuting in November of 2011 at a price of $26.11 a share, the stock cratered as questions about co-founder and CEO Andrew Mason’s leadership swirled for months. After a year of public trading, Groupon had lost over 85 percent of its value and was trading for under $5 a share.

However, since Mason was fired in February of this year, the stock’s rallied with vigor. Today’s pop is part of a run that’s seen the stock price jump almost 180 percent since the start of March.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for GRPN
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27 Apr 15 22:52:25
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27 Apr 15 21:42:17
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27 Apr 15 20:42:08
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27 Apr 15 20:20:02
$GM $GRPN: Today's Watch List: OncoMed Pharmaceuticals (NASDAQ:OMED ...: http://t.co/2rAqJb8wcJ
BreakingStocksNews
27 Apr 15 20:20:02
$GRPN $NBR: Top Wall Street Stories: Groupon (NASDAQ:GRPN), Nabors ...: http://t.co/JEomswLQvK
TalkMarkets
27 Apr 15 19:39:01
Bull Of The Day: Groupon $GRPN http://t.co/0W4ZJWmfFH
Perry Pendleton Inc.
27 Apr 15 19:16:47
RT @MarketsRecap: Bull Of The Day: Groupon $GRPN http://t.co/pA6xTpwCTl
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27 Apr 15 17:51:25
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27 Apr 15 17:07:43
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27 Apr 15 13:49:52
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TalkMarkets Recap
27 Apr 15 13:39:04
Bull Of The Day: Groupon $GRPN http://t.co/pA6xTpwCTl
James DiPlata
27 Apr 15 13:03:29
RT @laurenholmesNYC: Watching Closely: $AUY, $PLUG, $BBRY, $XLE, $GRPN, $QQQ, $APT, $BABA Read our thoughts here http://t.co/R1cZrhO0pH
Dyer
27 Apr 15 12:24:52
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27 Apr 15 12:12:31
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27 Apr 15 12:09:23
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27 Apr 15 11:30:57
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27 Apr 15 11:05:16
$GRPN Groupon Inc Sells Controlling Stake in Ticket Monster http://t.co/VyidBME9DL
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27 Apr 15 09:43:07
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Alexander Morris
27 Apr 15 09:20:04
$GRPN: At/Below 200DaySMA[+7.11]:1d, lm:-3, 0cNearLo, tf:0111111, ch:+0.1%, bigFlt:473M, HiPctSht[13%:5d]; TLM:1.2; cl+op-; vl:9
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27 Apr 15 09:02:04
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James DiPlata
27 Apr 15 08:51:51
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27 Apr 15 08:08:26
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TalkMarkets
27 Apr 15 07:29:53
Bull Of The Day: #Groupon $GRPN http://t.co/mxXMtFAit0
Alexander Morris
27 Apr 15 06:41:18
$GRPN: At/Below 200DaySMA[+7.11]:1d, lm:-3, 0cNearLo, tf:0111110, ch:+0.1%, bigFlt:473M, HiPctSht[13%:5d]; TLM:0.8; cl+op-; vl:9
WLST.com
27 Apr 15 06:23:47
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27 Apr 15 06:20:04
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27 Apr 15 06:18:06
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By  +Follow September 19, 2013 10:53AM
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