Ascendiant Capital Maintains a 'Sell' on Groupon, Inc. (GRPN); Cutting Numbers as Uncertainties Grow

August 27, 2012 10:25 AM EDT
Get Alerts GRPN Hot Sheet
Price: $3.45 -0.58%

Rating Summary:
    11 Buy, 20 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Ascendiant Capital maintains a 'Sell' on Groupon, Inc. (NASDAQ: GRPN) price target of $3.50 (from $5.00).

Analyst, Edward Woo, said, "We believe uncertainties with Groupon have increased recently due to staff turnover and competition. In our view, the restatement and weakness in controls and slowing growth are likely to bolster continued skepticism as to Groupon’s valuation, growth prospects, and profit potential despite its now lower valuation and multiples."

FY12 EPS estimate lowered from $0.19 to $0.15. FY12 revenues from $2.38B to $2.35B. FY13 EPS estimate cut from $0.50 to $0.35 and revenues from $3.0B to $2.74B.

For an analyst ratings summary and ratings history on Groupon, Inc. click here. For more ratings news on Groupon, Inc. click here.

Shares of Groupon, Inc. closed at $4.44 yesterday.

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