Groupon (GRPN) PT Bumped to $6 at Macquarie

October 4, 2016 8:13 AM EDT
Get Alerts GRPN Hot Sheet
Price: $5.16 +2.79%

Rating Summary:
    11 Buy, 19 Hold, 7 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
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Macquarie analyst Tom White reiterated an Outperform rating and bumped his price target on Groupon, Inc. (NASDAQ: GRPN) to $6.00 (from $5.30), saying local deals ramp remains strong and ad spend to support topline/mobile app momentum.

White notes a strong trajectory for deal volume; +26% since Apr. ‘16, +94% since Aug. ‘15. "Across the largest 20 U.S. cities, GRPN currently offers 130k deals marketed as “Local”. This is +26% since Apr ’16 (5,300 net new deals per month, the highest monthly average adds since we began tracking this data), and +94% since we first conducted this analysis in Aug ‘15. All 20 cities saw double-digit % growth since Apr ‘16," White comments. "Seasonality may be a factor, but this steady upward trend is positive in our view."

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 $5.23 yesterday.

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