Coupang (NYSE:CPNG) Releases Earnings Results, Beats Estimates By $0.53 EPS

Coupang (NYSE:CPNGGet Rating) released its quarterly earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.53, MarketWatch Earnings reports. Coupang had a negative return on equity of 46.10% and a negative net margin of 8.38%. During the same period last year, the company earned ($0.68) earnings per share.

Shares of Coupang stock traded up $1.79 during trading hours on Thursday, hitting $11.46. The company’s stock had a trading volume of 43,147,607 shares, compared to its average volume of 11,848,464. The company has a market cap of $20.12 billion, a PE ratio of -8.19 and a beta of 0.82. The business has a 50 day moving average price of $16.60 and a two-hundred day moving average price of $22.51. Coupang has a 12-month low of $8.98 and a 12-month high of $46.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.89 and a current ratio of 1.19.

A number of research analysts recently weighed in on CPNG shares. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 9th. JPMorgan Chase & Co. raised shares of Coupang from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $25.00 to $17.00 in a report on Friday, May 6th. Zacks Investment Research raised shares of Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating in a report on Tuesday, March 22nd. Finally, Citigroup upgraded shares of Coupang from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $29.00 to $15.00 in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $31.14.

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 50,000,000 shares of the stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $20.87, for a total transaction of $1,043,500,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Thuan Pham sold 119,990 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $18.98, for a total transaction of $2,277,410.20. Following the completion of the transaction, the chief technology officer now directly owns 2,678,978 shares in the company, valued at approximately $50,847,002.44. The disclosure for this sale can be found here.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in shares of Coupang in the 3rd quarter worth about $17,316,000. Invesco Ltd. grew its stake in shares of Coupang by 1,385.0% during the 4th quarter. Invesco Ltd. now owns 184,301 shares of the company’s stock worth $5,415,000 after acquiring an additional 171,890 shares in the last quarter. Toroso Investments LLC bought a new position in shares of Coupang in the fourth quarter valued at $4,101,000. Norges Bank acquired a new position in shares of Coupang in the fourth quarter valued at $2,938,000. Finally, State Street Corp increased its holdings in shares of Coupang by 85.3% in the fourth quarter. State Street Corp now owns 161,736 shares of the company’s stock valued at $4,752,000 after purchasing an additional 74,470 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

About Coupang (Get Rating)

Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.

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Earnings History for Coupang (NYSE:CPNG)

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