Coupang (NYSE:CPNG) Issues Quarterly Earnings Results

Coupang (NYSE:CPNG) announced its quarterly earnings results on Tuesday. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Zacks reports. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s revenue was up 22.6% compared to the same quarter last year.

Coupang Stock Performance

Shares of CPNG stock traded down $2.09 on Wednesday, hitting $21.56. The company’s stock had a trading volume of 23,318,792 shares, compared to its average volume of 13,286,464. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $23.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The stock’s 50 day moving average is $19.79 and its 200-day moving average is $17.21. The company has a market capitalization of $38.66 billion, a PE ratio of 28.80, a PEG ratio of 19.21 and a beta of 1.13.

Insider Buying and Selling at Coupang

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the sale, the insider now owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the transaction, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The disclosure for this sale can be found here. Insiders sold 33,355,282 shares of company stock valued at $633,457,030 in the last quarter. Company insiders own 14.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America assumed coverage on Coupang in a research report on Friday, May 3rd. They set a “buy” rating and a $30.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and raised their price target for the company from $18.50 to $21.00 in a report on Thursday, February 29th. Barclays upped their price objective on shares of Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Citigroup upgraded shares of Coupang from a “neutral” rating to a “buy” rating and raised their target price for the stock from $19.00 to $26.00 in a research note on Monday, April 15th. Finally, TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average price target of $23.92.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.