Groupon Inc

GRPN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	LOCK\|.L^&J>y	LOCK\|QG	LOCK\|F#

Groupon Earnings: With No Sign of a Network Effect the Search for Growth Continues, Possibly in 2025

Ali Mogharabi

Aug 10, 2023

Groupon’s slide continued in the second quarter as the firm is still struggling to maintain its local merchant supply and active customers. The decline in active customers slowed a bit sequentially but was still a 17% year-over-year decline, which further reduces the likelihood of a network effect. We did not make any significant adjustments to our model and are maintaining our $19 fair value estimate for no-moat Groupon.

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Groupon Inc

Groupon Earnings: With No Sign of a Network Effect the Search for Growth Continues, Possibly in 2025

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