Groupon Shares Have Mysteriously Exploded 30% in 3 Weeks -- Here's the Next Move
Barclays maintains a $3.40 price target on the company.
Groupon Inc. (GRPN) - Get Groupon, Inc. Report has been one of the most volatile stocks in Barclays analyst Deepak Mathivanan's coverage, rising 30% over the past three weeks after falling 25% following its weak earnings release.
"We think shares are likely to underperform until Groupon can demonstrate evidence of sustainable improvement in core unit economics and purchase frequency," Mathivanan wrote in a note Wednesday.
The firm maintained its "underweight" rating and $3.40 price target on the company. The price target represents a 14% downside from the stock's previous closing price of $3.94.
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