Groupon continues to struggle in the public market, losing ground in four of the week’s five days of trading. Today, Evercore Partners downgraded the company, setting a price target of $3 per share in the process.
On the day, Groupon was off exactly 5%, to a close of $4.75. Running the math, the new Evercore Partners target is some 36.84% lower than the firm’s current closing price. Using a rough calculation, that share price would value Groupon at around $1.96 billion.
Running more figures, that $1.96 billion number is less than one-third of Google’s full, $6 billion offer that was spurned pre-IPO. Thedeal included a substantial, multi-hundred million dollar earn out. However, the full deal’s value towers over the firms current worth, $3.1 billion, and most especially over Evercore’s target.
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