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

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

Coupang Stock Down 12.0 %

CPNG traded down $3.22 on Wednesday, hitting $23.67. 24,073,146 shares of the company were exchanged, compared to its average volume of 9,681,508. The firm has a 50-day moving average price of $24.45 and a two-hundred day moving average price of $22.75. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. Coupang has a twelve month low of $13.51 and a twelve month high of $26.91. The company has a market cap of $42.46 billion, a price-to-earnings ratio of 39.97 and a beta of 1.10.

Insider Buying and Selling at Coupang

In other news, Director Greenoaks Capital Partners Llc acquired 150,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $22.64 per share, with a total value of $3,396,000.00. Following the transaction, the director now owns 49,874,924 shares in the company, valued at approximately $1,129,168,279.36. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coupang news, Director Greenoaks Capital Partners Llc purchased 150,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $22.64 per share, with a total value of $3,396,000.00. Following the acquisition, the director now directly owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director now owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 400,956 shares valued at $9,245,164. 13.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CPNG has been the topic of several recent analyst reports. 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 raised shares of Coupang from a “hold” rating to an “outperform” rating and upped their target price for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.56.

About Coupang

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.