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Technology Stocks : Groupon, Inc.

GRPN 21.55

+7.1%

Nov 3 9:30 AM EST

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From: The Ox	2/21/2014 8:20:29 AM
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Many analysts have downgraded and set targets in the 7 to 9 range. Stifel reiterated buy with $14 target as did Northland: Northland Capital Markets analyst Darren Aftahi reiterated an Outperform rating on Groupon while trimming his price target modestly to $14.00 (from $15.00). "Strength in Goods drove 4Q sales outperformance but also weighed on margins," Aftahi said. "The company disappointed on '14 EBITDA guidance with heavy reinvestment focusing on shifting its model from push to pull, and we also think investing in new growth initiatives such as Local Pickup. On balance, while EBITDA guidance disappointed, EMEA turned a corner on growth as its One Playbook initiatives bore fruit, while 1Q organic growth guide of ~14% represents (at the midpoint) top-line y/y growth acceleration. With almost a majority of global GRPN transactions now being done on a mobile device, we believe the company’s heavy marketing investment in its pull platform this year to its consumer base, should yield improved longer-term search traffic, better ASP’s, and operating leverage as it transitions to 2015."

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