Sterne Agee CRT Says Groupon (GRPN) Had 'Fairly Good Quarter'
Sterne Agee CRT is reiterating their Buy rating on Groupon, Inc. (NASDAQ: GRPN) with their price target set at $12. Excluding any noise related to FX and the discontinuation of TMON, Groupon had a good quarter. With gross billings up 10% and rates improving by 40bps.
Sterne Agee CRT analyst Arvind Bhatia reported the 1Q15 results as, "Revenue / adjusted EBITDA of $750.4M / $72.6M compared to consensus $759M / $66M, SA / CRT of $754M / $70M and guidance $720 - $770M / $45 - $65M. Billings of $1.55B compared to consensus $1.86B and SA /CRT $1.58B. On an FX neutral basis, billings, revenue, gross profits and adjusted EBITDA would have been $118M / $51M / $3M higher."
For an analyst ratings summary and ratings history on Groupon, Inc. click here. For more ratings news on Groupon, Inc. click here.
Shares of Groupon, Inc. closed at $6.84 yesterday.