NEW YORK (TheStreet) -- Groupon (GRPN) shares continue to spike today, up 7.8%, to $7 on Tuesday, continuing the momentum it gained from a positive report yesterday from Piper Jaffray (PJC) analyst Gene Munster.
Munster reiterated his "overweight" rating and $16 price target on the company's shares based on the fact that the e-commerce marketplace has increasingly made its website the hub of its sales strategy rather than relying mostly on emails as it had previously done.
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Groupon shares climbed 8% yesterday following the report.
TheStreet Ratings team rates GROUPON INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GROUPON INC (GRPN) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."