Analyst Update: Groupon, Ascena Retail, Seagate Tech

Analysts are weighing in today on coupon provider Groupon Inc (NASDAQ:GRPN), retailer Ascena Retail Group Inc (NASDAQ:ASNA), and electronic data storage provider Seagate Technology (NASDAQ:STX). Here's a quick look at today's brokerage notes on GRPN, ASNA, and STX.

• Last week, Evercore ISE cut its price target on GRPN, a move mirrored by brokerage Macquarie this morning. The brokerage sliced its price target on Groupon Inc to $7 from $7.75. However, the analysts also issued an upgrade to "outperform" from "neutral," sending GRPN up 5.2% to $5.09. The stock is now on pace to end atop its 10-day moving average for the first time since mid-April. From a longer-term perspective, GRPN touched a two-year low of $4.74 just last week. As such, the security's 14-day Relative Strength Index (RSI) sits at 22 -- in oversold territory, suggesting a short-term bounce may have been in the cards. 

• ASNA gapped lower this morning after cutting its full-year earnings guidance, and is now down 14.1% at $14.05. In addition, the retailer's price target was cut to $18 from $20 at RBC.  We could see some bullish sentiment unwind in the option pits, as Ascena Retail Group Inc's Schaeffer's put/call open interest ratio (SOIR) of 0.13 is lower than 96% of the readings taken in the past 52 weeks. Brokerage houses are also optimistic toward ASNA, as five of the seven following the fashionista rate it a "strong buy." If any of this crew follows RBC's lead, we could see the shares fall further.

• Our last news morsel comes from Seagate Technology PLC. This morning, the company announced that it expects fiscal fourth-quarter earnings to come in short of expectations, due to lower-than-expected demand. As such, FBN Securities cut its price target on STX to $50 from $60, and J.P. Morgan Securities slashed its target to $45 from $54. This combination of news has not helped put an end to STX's recent slump. The shares are down 1.9% at $45.09, and earlier touched an annual low of $44.46.