Coupang (NYSE:CPNG) Issues Earnings Results

Coupang (NYSE:CPNG) released its earnings results on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05, Briefing.com reports. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same period in the previous year, the company earned $0.05 earnings per share. Coupang’s revenue was up 27.2% compared to the same quarter last year.

Coupang Stock Down 12.0 %

NYSE CPNG traded down $3.22 during trading on Wednesday, reaching $23.67. The company’s stock had a trading volume of 23,096,717 shares, compared to its average volume of 9,676,966. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $42.46 billion, a PE ratio of 39.97 and a beta of 1.10. Coupang has a 1-year low of $13.51 and a 1-year high of $26.91. The business has a 50-day moving average price of $24.45 and a 200-day moving average price of $22.75.

Analyst Ratings Changes

CPNG has been the topic of several research analyst reports. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares of the company’s stock, valued at $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $22.39 per share, for a total transaction of $2,239,000.00. Following the completion of the acquisition, the director now directly owns 50,376,224 shares of the company’s stock, valued at approximately $1,127,923,655.36. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the transaction, the director now owns 1,969,421 shares in the company, valued at $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 601,300 shares of company stock valued at $13,604,354 and have sold 400,956 shares valued at $9,245,164. Company insiders own 13.60% of the company’s stock.

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.