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6-K ·Filed Jun 30, 2026

HEPS

D-MARKET Electronic Services & Trading
NEUTRAL
Impact 2/10
Horizonmonths Processed3mo ago SEC0001104659-26-079097
Notable filing: 6-K
Actionable Insight • Neutral

The CEO transition was widely expected and internal promotions suggest continuity. Monitor the next 20-F or earnings release for evidence of operational improvement under the new leadership, especially given the prior annual report's deteriorating financials.

DirectionNeutral
Confidencehigh
Horizonmonths
Final — all horizons settled through T+60d
HEPS ▼ -13.40% at T+60d
NEUTRAL call -13.40% · α vs SPY -16.97% · entry $2.91 → $2.52
Entry = T+0 close
Jun 30, 2026
via day close
T+1d
0.00%
call 0.00% · α +0.14%
$2.91
settled 4mo ago
T+5d
+2.41%
call +2.41% · α +1.80%
$2.98
settled 4mo ago
T+20d
-2.41%
call -2.41% · α -1.38%
$2.84
settled 3mo ago
T+60d
-13.40%
call -13.40% · α -16.97%
$2.52
settled 5w ago

Price Chart

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Executive Summary

Hepsiburada completed its planned CEO transition: Nilhan Gökçetekin steps down, Ender Özgün appointed CEO, and Hakan Karadoğan to lead the Delivery business. No financial data or unexpected changes were disclosed.

Key Facts

  • CEO transition completed as planned, first announced on December 29, 2025.
  • Nilhan Gökçetekin steps down as CEO effective July 1, 2026.
  • Ender Özgün (former Chief Commercial Officer) appointed CEO of Hepsiburada.
  • Hakan Karadoğan (former CEO of Logistics) appointed CEO of the Delivery business.
  • Both new leaders report to Chairman Mikheil Lomtadze and the Board.

Financial Impact

No financial impact from this filing.

Risk Factors

  • Execution risk under new management structure.
  • Prior 20-F highlighted widening net loss and material internal control weaknesses, which remain unresolved.

Market Snapshot

Exchange
Nasdaq
Sector
Retail-Catalog & Mail-Order Houses
Analyst Consensus
67% bullish (9 analysts)

Investment Themes

Consumer & Retail

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

DocumentAccession Number
6-K Filing (Primary)0001104659-26-079097
Document: tm2619413d1_ex99-1.htm0001104659-26-079097
Document: 0001104659-26-079097-index-headers.html0001104659-26-079097
Document: 0001104659-26-079097-index.html0001104659-26-079097
Document: 0001104659-26-079097.txt0001104659-26-079097
10 reports for HEPS
Performance horizon
100% Hit rate @ T+20 4 of 4 directional calls Went positive at some point 4 of 4 best @ T+60▲ +10.47%Jul 14, 2026
Filters
Rows
Reports for HEPS — sortable, filterable
TypeNow
Oct 27, 2026
today
6-K
NEUTRAL ★ 2/10
$2.78awaiting T+20—$2.79 (+0.36%)
Sep 30, 2026
26d ago
Press Release
NEUTRAL ★ 2/10
$2.48awaiting T+20—$2.79 (+12.50%)
Sep 9, 2026
6w ago
6-K
MIXED ★ 6/10
$2.65 $2.65· 0.00%▼ −1.94%$2.79 (+5.28%)
Aug 20, 2026
9w ago
6-K
BEARISH ★ 6/10
$2.67 $2.50▲ +6.37%▲ +6.37%$2.79 (−4.49%)
Aug 6, 2026
11w ago
Press Release
BEARISH ★ 6/10
$2.77 $2.68▲ +3.43%▲ +3.03%$2.79 (−0.72%)
Jul 23, 2026
13w ago
6-K
NEUTRAL ★ 2/10
$2.84 $2.67▼ −5.99%▼ −9.29%$2.79 (−1.76%)
Jul 14, 2026
14w ago
Press Release
BEARISH ★ 6/10
$2.96 $2.84▲ +4.05%▲ +6.40%$2.79 (+5.74%)
Jun 30, 2026
17w ago
6-K
NEUTRAL ★ 2/10
$2.91 $2.84▼ −2.41%▼ −1.38%$2.79 (−4.12%)
Apr 30, 2026
25w ago
20-F
BEARISH ★ 7/10
$2.80 $2.78▲ +0.71%▲ +5.98%$2.79 (+0.36%)
Apr 16, 2026
27w ago
Press Release
NEUTRAL ★ 1/10
$2.80 $2.59▼ −7.50%▼ −12.87%$2.79 (−0.36%)
Showing 10 of 10

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Report published Jun 30, 2026