Update shared on 19 Nov 2025
Fair value Decreased 15%Analysts have lowered their price target for D-Market Elektronik Hizmetler ve Ticaret from $4.07 to $3.47, citing ongoing profitability pressures and uncertainty regarding strategy as key factors in the revised outlook.
Analyst Commentary
Following the revised price target and outlook, analysts have provided detailed perspectives on D-Market Elektronik Hizmetler ve Ticaret's current strategic approach and market positioning.
Bullish Takeaways- Bullish analysts note that D-Market's focus on attracting more customers and merchants may support the company’s long-term growth trajectory.
- The transition towards expanding the user base is seen as a potential driver for future market share gains.
- There is expectation that increased customer acquisition efforts could strengthen the brand, laying groundwork for improved monetization over time.
- Bearish analysts express concern that prioritizing expansion over profitability has led to sustained cash flow pressures, impacting near-term valuation.
- Uncertainty regarding management's strategic direction and limited visibility into future profitability weigh on investor sentiment.
- Analysts anticipate that ongoing challenges could persist through the remainder of the year and into 2026, delaying meaningful recovery in the share price.
- Some believe the company's shares may continue to trade subdued until management provides greater clarity on strategic plans and financial outlook.
What's in the News
- D-Market's Board of Directors has called for an Extraordinary General Assembly Meeting of Shareholders on November 17, 2025 to consider amendments to Articles related to "Line of Business and Objective," "General Assembly," and "Compliance with Corporate Governance Principles" of the Company's Articles of Association (Key Developments).
- An Extraordinary Shareholders Meeting is scheduled for November 17, 2025, with the agenda including possible increases in share capital, amendments to several core articles of association, and discussion of pre-emptive rights (Key Developments).
Valuation Changes
- Consensus Analyst Price Target: Lowered from $4.07 to $3.47. This reflects a notable adjustment in fair value estimates.
- Discount Rate: Increased slightly from 15.72% to 15.97%. This signals a marginal rise in perceived investment risk.
- Revenue Growth: Projected growth rate has climbed from 32.35% to 34.27%. This indicates higher expectations for top-line expansion.
- Net Profit Margin: Estimated net profit margin has improved from 6.15% to 8.59%. This suggests anticipated efficiency gains or a more favorable cost structure.
- Future P/E: Forward price-to-earnings ratio has declined from 9.44x to 5.78x, which implies lower valuation multiples in future periods.
Disclaimer
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