Coupang (NYSE:CPNG) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Coupang (NYSE:CPNG) announced its quarterly earnings data on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same period in the previous year, the business earned $0.05 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year.

Coupang Stock Up 2.6 %

CPNG traded up $0.63 during midday trading on Thursday, reaching $24.63. 8,485,831 shares of the company were exchanged, compared to its average volume of 9,706,563. The company has a market cap of $44.18 billion, a price-to-earnings ratio of 42.47 and a beta of 1.10. Coupang has a one year low of $13.51 and a one year high of $26.91. The company’s fifty day moving average price is $24.53 and its 200 day moving average price is $22.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12.

Insider Activity

In related news, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Coupang news, Director Benjamin Sun sold 200,000 shares of the stock in a transaction dated Monday, August 19th. The shares were 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 in the company, valued at approximately $46,005,674.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 251,300 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $22.58 per share, for a total transaction of $5,674,354.00. Following the transaction, the director now owns 50,126,224 shares in the company, valued at approximately $1,131,850,137.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 400,956 shares worth $9,245,164. Corporate insiders own 13.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CPNG. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $27.56.

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.