Groupon, Inc. (GRPN) is up nearly 5% to $7.90 in pre-market trading Monday after BofA (BAC) analyst Paul Bieber upgraded the stock of the online daily deal marketplace from ‘Neutral’ to ‘Buy’ and raised the price target from $8 to $9.50.
Within the report, Bieber notes the recent progress the firm has made validates its turnaround and feels “the downward estimate revision cycle could be ending.”
Groupon, Inc., currently valued at $5.06B, has a median Wall Street price target of $8.00 with a high target of $12.00. In the past 52 weeks, shares of Chicago, Illinois-based company have traded between a low of $5.18 and a high of $12.42 with the 50-day MA and 200-day MA located at $6.92 and $6.53 levels, respectively. Additionally, shares of GRPN trade at a P/E ratio of 5.10 and have a Relative Strength Index (RSI) and MACD indicator of 56.50 and -0.06, respectively.
GRPN currently prints a one year loss of about 17.25% and a year-to-date loss of around 36.02%.
Shares of 21Vianet Group, Inc. (VNET) were soaring Monday morning after the company announced a $296 million investment from Kingsoft, Xiaomi Corporation and Singapore-based investment company Temasek. The three will hold 11.6% equity ownership in 21Vianet, representing approximately 19.9% of the voting power.
“We welcome the new strategic investments by Kingsoft and Xiaomi and the additional investment by Temasek,” said Mr. Josh Chen, co-founder, chairman and CEO of 21Vianet. “We are very excited to see that Kingsoft and Xiaomi, leading global technology companies, share our vision and strategy in developing open-source technologies, cloud ecosystems and the next generation internet infrastructure in China.”
VNET shares recently gained 8.93% to $20.55. The stock is down more than 19% this year ; up roughly 6% over the past 12 months.
This morning, Bank of America (BAC) upgraded shares of JetBlue Airways Corporation (JBLU) two notches from ‘Underperform’ to ‘Buy’. The investment firm believes lower energy prices will boost consumer spending and company margins. Price target raised to $17 from $10.50 implying 12.21% expected return.
JetBlue shares are up 3.84% to $15.15 in recent trading. JetBlue is a Long Island City, New York-based airliner providing transportation services in the United States, the Caribbean, and Latin America. Its stock has a median consensus analyst price target of $15 with a high target of $18, and a new 52-week trading range of $7.61 to $15.15.
The T-12 profit margin at JetBlue Airways is 6.28%. JBLU‘s revenue for the same period is $5.74 billion.
JetBlue Airways Corporation has market cap of $4.26 billion.
ON Semiconductor Corp. (ONNN) shares edged higher in early trading on Monday following an announcement that said the company’s board has approved $1 billion share repurchase program. According to the company, the new stock repurchase program is effective today and the $300 million stock repurchase program announced in August of 2012 has been terminated.
ONNN shares recently gained $0.34 to $9.35. In the past 52 weeks, shares of Phoenix, Arizona-based semiconductor components manufacturer have traded between a low of $6.76 and a high of $10.07. Shares are up 27.54% year-over-year and 9.59% year-to-date.
Shares of SanDisk Corp. (SNDK) were flat Monday morning after JP Morgan (JPM) raised its 12 -month base case estimate on the name to $112 from $100.
In other SNDK news this morning, the flash memory storage solutions provider today announced that it has appointed Mark Brazeal as senior vice president and chief legal officer.
On valuation measures, SanDisk Corp. shares are currently priced at 21.52x this year’s forecasted earnings compared to the industry’s 13.83x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.00 and 15.75, respectively. Price/Sales for the same period is 3.45, while EPS is $4.81. Currently there are 25 analysts that rate SNDK a ‘Buy’, 8 rate it a ‘Hold’. 1 analyst rates it a ‘Sell’. SNDK has a median Wall Street price target of $110.00 with a high target of $135.00.
In the past 52 weeks, shares of Milpitas, California-based company have traded between a low of $64.50 and a high of $108.77 and are now at $103.49. Shares are up 54.33% year-over-year and 48.50% year-to-date.
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