In a report published Friday, Jefferies & Company reiterated its Hold rating on Groupon GRPN, but slightly lowered its price target from $4.75 to $4.00.
Jefferies noted, “Groupon reported a miss quarter which also included a benefit of $18.5MM for a 1x true-up of breakage (on tax ruling in Germany). Revenue growth of 32% Y/Y was driven by 81% Y/Y growth in North America, offsetting weak int'l growth (+3% Y/Y / +13% ex-FX) on macro-economic pressure in Europe and FX headwinds. While mgmt was cautiously optimistic on Europe, Q4 guidance disappointed on margin. We reiterate our Hold and lower PT to $4.”
Groupon closed on Thursday at $3.92.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in