Down 40% this year alone, Groupon may soon look attractive as an e-commerce, payments or local ad asset, Goldman said.

That's because despite the slumping stock price, Groupon (GRPN) is still the leader in daily deals. It has 650,000 merchant relationships, 53 million customers and over 90 million app downloads.

But the company is still clearly struggling. Its stock plummeted nearly 13% on August 6 after reporting a deep quarterly loss than the year before.