Coupang (NYSE:CPNG) Releases Earnings Results

Coupang (NYSE:CPNG) issued its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.18, FiscalAI reports. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The company had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion.

Coupang Trading Up 2.4%

NYSE:CPNG traded up $0.39 during mid-day trading on Tuesday, hitting $16.81. 25,622,525 shares of the company’s stock were exchanged, compared to its average volume of 23,380,049. Coupang has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $30.17 billion, a P/E ratio of -186.75 and a beta of 1.13. The company has a 50 day simple moving average of $17.00 and a 200-day simple moving average of $18.26.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPNG. CLSA assumed coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Mizuho dropped their target price on shares of Coupang from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Bank of America reduced their price target on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.93.

Hedge Funds Weigh In On Coupang

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of Coupang by 72.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after purchasing an additional 1,395 shares during the last quarter. Baird Financial Group Inc. raised its position in Coupang by 52.8% during the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after purchasing an additional 8,107 shares during the last quarter. Cerity Partners LLC raised its position in Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after purchasing an additional 14,703 shares during the last quarter. State Street Corp lifted its holdings in Coupang by 8.4% during the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after buying an additional 1,210,801 shares during the period. Finally, AXA S.A. acquired a new position in Coupang during the 2nd quarter worth about $411,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.