The shares of Groupon (NASDAQ:GRPN) reached a new all time after an analysts issued a positive conviction regarding the future of the daily deals company. The stock rose by almost 9% to as much as $12.76 per share on Thursday.

Groupon’s management under the leadership of CEO Eric Leftkofsky maneuvered the company towards profitability. The stock plummeted to as low as $2.60 per share over the past 52-week range due successive losses and missteps of its former chief Andrew Mason that led to his ouster.

Leftkofsky took over as interim CEO, and was appointed to his position permanently after Groupon generated positive results in the second quarter this year. The company achieved S0.02 earnings per share on $608.7 million revenue. The company also approved a $300 million shares repurchase program over the next 24 months.

Groupon continues to execute different strategies to improve its offerings, maintain growth, and profitability. Sitifel Nicolaus analysts, Jordan Rohan noticed the improvements of the daily deals company and upgraded his rating for the stock from hold to buy with a price target of $16 per share. After visiting Groupon’s headquarters, he was convinced that Groupon has the ability to grow faster and more profitable in the near future.

Groupon moved away from its tradition business strategy of sending discounted local offerings or coupons to its millions of subscribers through their e-mails. The company focused its strategy on e-commerce mobile apps and streamlining its operations. Rohan applauded the company’s efforts.

In a note to investors, Rohan wrote,  “The key is the company’s focus on reducing dependence on email, focusing on mobile and app-based commerce and streamlining operations, which had been incredibly inefficient under the past CEO. “While the company has not yet shown a big acceleration in total growth rate, the acceleration of growth is likely soon, perhaps this quarter. Importantly, when that accelerating growth materializes, we believe it will also come with higher margins— the necessary ingredients for multiple expansion.”

Groupon recently acquired Side Tour, an online market place engaged in booking and hosting curated local events in Chicago, New York, Philadelphia and Washington, D.C. to offer more fun and exciting offerings to its customers, and strengthen their loyalty. In July, the company launched Groupon Reserve and started offering premium deals to customer from leading brands, restaurants, hotels etc.