Groupon Inc. (NASDAQ: GRPN) shares have been hit in 2018, but it seems that this online coupon company may have found a way to get something back. According to a report from Recode over the weekend, Groupon may be looking for a buyout.
Excluding Monday’s move, Groupon shares are down about 15% in 2018. However, in the past 52 weeks, this stock is actually up about 18%.
The report over the weekend noted that executives and representatives have recently stepped up efforts to lure in possible buyers, but at this point it’s not entirely clear if they have any buyers interested.
It’s worth pointing out that Alibaba Group Holding Ltd. (NYSE: BABA) bought roughly 33 million shares, or 6% of Groupon back in 2016 and could be considered as a possible suitor. IAC/InterActiveCorp (NASDAQ: IAC) is considered another option as its chief executive officer, Joey Levin, is a Groupon board member.
Shares of Groupon traded early Monday at $4.71, up about 8% on the day, with a consensus analyst price target of $5.61 and a 52-week trading range of $3.60 to $5.99.
Alibaba shares traded Monday morning at $193.76, with a consensus price target of $249.84 and a 52-week range of $142.25 to $211.70.
And IAC traded at $156.45 a share. The consensus price target is $191.38, and the 52-week range is $98.91 to $166.64.