UPDATE: Jefferies Reiterates $4 PT, Hold Rating on Groupon Following Disappointing Quarter

Jefferies maintained Groupon (NASDAQ: GRPN ) with a Hold rating and a $4.00 price target. Jefferies noted, "Groupon reported another miss quarter with strong gross billings growth but somewhat disappointing revenue growth and surprisingly low margins. Revenue growth of 30% Y/Y was driven by 109% Y/Y growth in NA,