Goldman Sachs Cuts Target on Groupon (GRPN) After Restatement

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April 2, 2012 7:19 AM EDT
Get Alerts GRPN Hot Sheet
Price: $21.51 -2.14%

Rating Summary:
    14 Buy, 16 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Goldman Sachs cut its price target on Groupon, Inc. (NASDAQ: GRPN) from $29 to $25 following Friday's restatement, but is keeping its Buy rating.

"While the impact of the revision is minor, the need for it is a reminder that Groupon remains in the very early stages of development for a company of its size," the firm said.

While the firm's forward estimates are unchanged, the lower price target reflects increased uncertainty around the business as a whole and the upcoming expiration of the lock-up.

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 $18.38 yesterday.

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