Shares of online marketplace company Groupon Inc GRPN are trading higher by over 30%, continuing the momentum from Friday's session after the company's better-than-expected EPS and sales results.
The Earnings: Last Thursday, Groupon reported quarterly earnings of 51 cents per share, which beat the analyst consensus estimate of 26 cents. The company reported quarterly sales of $343 million, which beat the analyst consensus estimate of $306.94 million.
Groupon reported a gross profit of $179 million for the fourth quarter and $677 million for the full year. Groupon also reported a fourth-quarter adjusted EBITDA of $40 million and $50 million for the full year.
Analyst Changes: The stock received some updated price targets prior to Monday's open. JPMorgan upgraded the stock from Underweight to Neutral and announced a $48 price target, while Credit Suisse maintains a Neutral and raised the price target from $31 to $35.
Groupon is best known for its online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally.
GRPN Price Action: Groupon shares are up about 33% to $57.76 at publication time. The stock has a 52-week high of $60.17 and a 52-week low of $9.60.
Photo credit: Rusty Clark, Flickr
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