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D-Market ( (HEPS) ) has shared an announcement.
Hepsiburada, the e-commerce brand of Istanbul-based D-MARKET Electronic Services & Trading, disclosed that it filed its 2025 annual report on Form 20-F with the U.S. Securities and Exchange Commission on April 30, 2026. The filing, covering the fiscal year ended December 31, 2025, makes the company’s audited consolidated financial statements available to investors via the SEC and its own investor relations website.
The company said shareholders and ADS holders can request hard copies of the 2025 annual report free of charge, underscoring its effort to maintain transparency and comply with U.S. disclosure standards as a Nasdaq-listed issuer. By keeping current with its SEC reporting obligations, Hepsiburada reinforces its positioning as a leading Turkish e-commerce and fintech platform for both local customers and global capital markets.
Founded in 2000, Hepsiburada has expanded from an online retailer into a comprehensive digital commerce ecosystem that blends direct sales with a marketplace model. Its broader mission, including initiatives such as the Technology Empowerment for Women Entrepreneurs program launched in 2017, highlights a strategic focus on social impact alongside growth in Turkey’s competitive e-commerce sector.
The most recent analyst rating on (HEPS) stock is a Hold with a $3.07 price target. To see the full list of analyst forecasts on D-Market stock, see the HEPS Stock Forecast page.
Spark’s Take on HEPS Stock
According to Spark, TipRanks’ AI Analyst, HEPS is a Neutral.
The score is primarily held back by weak profitability and higher leverage despite improving revenue growth and better recent cash generation. Technical indicators are broadly neutral-to-soft, and valuation offers limited support due to the company’s loss-making profile and no stated dividend.
To see Spark’s full report on HEPS stock, click here.
More about D-Market
D-MARKET Electronic Services & Trading, which operates as Hepsiburada, is a leading Turkish e-commerce technology platform running a hybrid first-party and third-party marketplace model. It offers a broad ecosystem including last‑mile delivery, fulfillment, advertising, cross-border sales, payment services and fintech solutions through its Hepsipay digital platform, and has been active since 2000 with programs supporting women entrepreneurs in Türkiye.
Hepsiburada also positions itself as a purpose-driven player in the digitalization of commerce, aiming to be a reliable and innovative companion in consumers’ daily lives. Its integrated services and financial products, such as digital wallets, loans and buy now pay later, are designed to increase shopping convenience for consumers while boosting conversion and sales for merchants, reinforcing its role in Turkey’s fast-growing online retail market.
Average Trading Volume: 257,407
Technical Sentiment Signal: Buy
Current Market Cap: $893.4M
Learn more about HEPS stock on TipRanks’ Stock Analysis page.