It's a "step in the right direction," said Stiefel's Jordan Rohan. He called Groupon's current strategy "incomplete," warning investors that "the business may take a long time to recover."
(Read More: NBC News: Groupon Fires Founder, CEO Andrew Mason)
One analyst, Edward Woo at Ascendiant Capital Markets noted the outlook for the company is now even hazier, writing "we believe that a new CEO increases near term uncertainties for the company as recent results have been weak and it is undergoing a major business transformation."
And at the end of the day, it will all come down to whether Groupon's challenges—slowing daily deals business and growing competition—can be tackled. Justin Post, Bank of America's Groupon analyst, wrote that it does not change his "cautious view on Groupon's business model shift to Groupon Goods." He warned, "We think it will be very difficult for Groupon to deliver year-over-year growth given the sales mix shift to the lower margin goods business."
(Read More: With Groupon CEO Out, Merchants Rethink the Daily Deal Model)