D-Market ( (HEPS) ) has shared an update.
On May 8, 2025, Hepsiburada reported its financial results for the first quarter of 2025, highlighting a challenging start to the year. The company’s gross merchandise value (GMV) fell by 14.8% compared to the same period in 2024, and revenue decreased by 7.9%. The decline was attributed to politically driven consumption boycotts and counter-inflationary policies affecting consumer purchasing power. Despite these challenges, Hepsiburada improved its gross contribution margin by 200 basis points and expanded its logistics capabilities through HepsiJet. However, the company faced a net loss of TRY 355.1 million, and free cash flow turned negative, reflecting broader macroeconomic challenges impacting the Turkish retail sector.
Spark’s Take on HEPS Stock
According to Spark, TipRanks’ AI Analyst, HEPS is a Neutral.
D-Market’s strong revenue growth and operational improvements are key strengths, yet ongoing net losses and macroeconomic headwinds pose challenges. While technical indicators suggest bearish momentum, strategic program expansions and a growing customer base provide a tempered positive outlook. Valuation remains a concern due to lack of earnings and dividends.
To see Spark’s full report on HEPS stock, click here.
More about D-Market
D-Market Electronic Services & Trading, operating under the brand name Hepsiburada, is a prominent Turkish e-commerce platform. The company focuses on providing a wide range of products through its online marketplace, catering to the needs of consumers in Turkey.
Average Trading Volume: 588,131
Technical Sentiment Signal: Sell
Current Market Cap: $1.06B
Find detailed analytics on HEPS stock on TipRanks’ Stock Analysis page.