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

Coupang (NYSE:CPNG) announced its earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05, Briefing.com reports. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The company’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS.

Coupang Price Performance

CPNG traded down $3.22 during trading on Wednesday, reaching $23.67. 24,073,146 shares of the stock were exchanged, compared to its average volume of 9,681,508. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The company has a market capitalization of $42.46 billion, a price-to-earnings 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’s 50 day moving average price is $24.45 and its two-hundred day moving average price is $22.75.

Analyst Ratings Changes

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

Insider Activity

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Greenoaks Capital Partners Llc acquired 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the transaction, the director now directly owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders bought 601,300 shares of company stock worth $13,604,354 and sold 400,956 shares worth $9,245,164. Company insiders own 13.60% of the company’s stock.

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.