Groupon shares surge 30% after qtrly report exceeds expectations

Groupon

10/05/2024 18:20

** Shares of Groupon  GRPN.O  surge >30% on Fri, on track for
biggest daily pct gain since Mar 2021, after e-commerce
marketplace late Thurs reported Q1 rev above LSEG consensus
expectations
    ** Stock last up 31% at $13.76
    ** Rev in qtr of $123.1 mln, up 1% yr/yr, topped avg
analysts' estimate of $117.5 mln
    ** Wall Street median 12-month PT is $14, and of the three
analyst ratings on the stock, two are a "buy" and one is a
"sell" - LSEG
    ** Analysts at Roth MKM, which has a "buy" rating on GRPN,
write in note that Q1 results "saw revenue increase YoY for the
first time in eight years, EBITDA and cash flow were
considerably better than guidance..."
    ** They add that "the recently enacted management
compensation plan implies a high degree of confidence on
management's part that the stock is heading higher."
    ** Including session move, GRPN up about 7% YTD vs a roughly
8% gain in the Nasdaq  .IXIC 

 (Reporting by Caroline Valetkevitch)
 ((caroline.valetkevitch@thomsonreuters.com))