Preview of Groupon's Earnings Report

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Groupon, Inc.
GRPN
reports their 3Q13 earnings on Thursday, November 7th with a call at 2:00pm PT. According to the BZ Pro Calendar, the average Q3 EPS estimate is 0.01. Q3 prior estimate is 0.03. The revenue estimate is reported at $616.13 million. The Calendar reports a $568.55 million prior revenue estimate. Bloomberg reports an average analyst PT of $12. Analysts' price target range from $8-$17 with Deutsche Bank, Stifel, and Piper Jaffray taking a bullish stance. In Wednesday's note, Piper Jaffrey analyst Gene Munster wrote that "While there is debate as to how the September quarter will play out (some analysts expect a miss in Sep-13), we believe Sep-13 results (11/7 after the close), will represent the third consecutive quarter of modest improvements in fundamentals." Munster noted that a deal marketplace is a "viable long term business." Ascendiant Capital Markets analyst Edward Woo is bearish on Groupon with a $8 PT and Sell rating. Woo forecasts that Q3 results will slightly miss estimates. The analyst commented, "While the company has a plan to improve its international business (similar to what it did in the U.S.), we believe that there is still a long path to follow. We believe uncertainties with Groupon remain due to staff turnover, competition, and increased investments. In our view, the slowing growth and weak margins are likely to bolster continued skepticism as to Groupon's valuation, growth prospects, and profit potential." Shares of Groupon have continued to decrease since the high of $12.76 in September. Early in October, shares took a drastic hit down 26% from its high of $12.76. The stock rebounded slightly before continuing it's downward spike at the end of the month. Groupon closed at $9.91 on Friday.
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Posted In: Analyst ColorAnalyst RatingsAscendiant Capital MarketsDeutsche BankEdward WooGene MunsterPiper JaffrayStifel
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