Coupang (NYSE:CPNG) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Coupang (NYSE:CPNG) issued its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01, Zacks reports. Coupang had a return on equity of 7.09% and a net margin of 1.16%.The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.13 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year.

Coupang Price Performance

Shares of NYSE:CPNG traded down $1.08 during trading on Thursday, hitting $29.14. 9,742,358 shares of the stock were exchanged, compared to its average volume of 10,010,525. The company has a fifty day moving average price of $31.60 and a two-hundred day moving average price of $29.29. The company has a market cap of $53.13 billion, a PE ratio of 138.56 and a beta of 1.17. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang has a 12-month low of $19.02 and a 12-month high of $34.08.

Insider Buying and Selling at Coupang

In other news, insider Harold Rogers sold 64,755 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the sale, the insider owned 449,569 shares of the company’s stock, valued at $14,413,182.14. The trade was a 12.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 988,983 shares of company stock worth $31,237,061. Corporate insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CPNG. EverSource Wealth Advisors LLC raised its holdings in Coupang by 72.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after acquiring an additional 1,395 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after acquiring an additional 8,107 shares during the last quarter. Cerity Partners LLC raised its holdings in Coupang by 48.1% in the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after acquiring an additional 14,703 shares during the last quarter. State Street Corp raised its holdings in Coupang by 8.4% in the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after acquiring an additional 1,210,801 shares during the last quarter. Finally, AXA S.A. acquired a new position in Coupang in the 2nd quarter valued at $411,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on CPNG shares. Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Bank of America lifted their target price on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Arete Research started coverage on Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Mizuho raised their price target on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Coupang has a consensus rating of “Moderate Buy” and a consensus target price of $34.56.

Coupang Company Profile

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.