ERJ - GRPN Stock Price Prediction: Why This Analyst Thinks 'Overlooked' Groupon Could Hit $98
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Groupon (NASDAQ:GRPN) stock is getting a boost on Tuesday following a new price prediction that investors are sure to love.
Prescience Point Capital Management is behind the new price prediction for GRPN stock. According to it, the company should be valued closer to its price target range of $63 to $98.
The price target range from Prescience Point Capital Management definitely has it taking a bullish stance on GRPN stock. It represents a minimum upside of roughly 172% and a maximum upside of 322.4% for the shares.
The new price prediction for GRPN stock is also well above what other analysts are expecting from the company. The stock currently has a consensus hold rating and a price target of $37.67.
So why is Prescience Point Capital Management so bullish on GRPN stock? Here’s a quick portion from its analysis explaining its stance, as collected by TheFly.com.
“Market participants have completely overlooked the sizable value of Groupon’s investment in SumUp, a fast-growing fintech with a 50%+ revenue CAGR, which we believe is worth at least $268m [and growing] or close to 40% of Groupon’s current enterprise value. The market is also significantly undervaluing Groupon’s core business, whose recent turnaround has been overshadowed by pandemic related shutdowns and a recent change in revenue recognition accounting that makes it look like revenue got cut in half.”
GRPN stock is seeing decent trading today alongside that price prediction. As of this writing, more than 1 million shares of the stock have changed hands. That’s already above its daily average trading volume of about 996,000 shares.
GRPN stock is up 8.2% as of Tuesday morning but is down 29% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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