Benchmark Sees 'Meet or Beat' Q1 from Groupon (GRPN); Expects Upside Amid Facebook IPO

Groupon (Nasdaq: GRPN) shares are up nearly 9 percent Monday morning ahead of the company's first-quarter results, due out after the closing bell at 4pm ET. The sharp move higher in the stock comes amid a notable move lower in the broader equity market Monday. The S&P 500 is down about 13 points (nearly 1 percent) at last check, while the Nasdaq is down about 26.5 points.

Analysts are currently looking for first-quarter earnings of 1 cent on sales of $530.58 million.

Benchmark's Clayton Moran issued a research note earlier suggesting Groupon shares could be in for a "big rally" as the Facebook IPO approaches. Moran is modeling for Groupon to post a "meet or beat" quarter with cash conversion improving "materially." The analyst did however warn of some possible risk to Groupon's second-quarter guidance.

Benchmark maintains a Buy rating and $28 price target on Groupon shares.

Groupon generally reports quarterly results right after the market close (not later than 4:05pm ET).

Stay tuned to our Earnings category at 4pm to get the results within seconds of the official release.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Piper Sandler Reiterates Overweight Rating on Patterson-UTI Energy (PTEN)
• Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS