Coupang (NYSE:CPNG) Announces Quarterly Earnings Results

Key Points

• Coupang reported earnings of $0.02 per share for the quarter, missing the analysts' estimates of $0.07, while its revenue grew by 16.4% year-over-year.
• Insiders sold 40.4 million shares of Coupang stock in the last ninety days, indicating a significant decrease in their ownership, with sales totaling over $1 billion.
• Analysts have mixed ratings for Coupang, with an average rating of "Moderate Buy" and a consensus target price of $30.08.

Coupang (NYSE:CPNG - Get Free Report) released its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05), Zacks reports. Coupang had a return on equity of 10.07% and a net margin of 0.82%. During the same period in the previous year, the business posted $0.07 earnings per share. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year.

Coupang Stock Up 0.8%

Shares of NYSE:CPNG traded up $0.25 during trading on Tuesday, reaching $29.88. The stock had a trading volume of 13,758,981 shares, compared to its average volume of 9,547,147. Coupang has a one year low of $19.02 and a one year high of $31.65. The company has a market capitalization of $54.25 billion, a P/E ratio of 213.43 and a beta of 1.16. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The firm's 50-day simple moving average is $29.43 and its 200 day simple moving average is $25.61.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director owned 1,319,421 shares in the company, valued at $37,418,779.56. The trade was a 13.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,462,003 shares of company stock worth $1,067,897,453. Insiders own 12.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CPNG. Mizuho upgraded Coupang to a "hold" rating in a research note on Friday, April 18th. Barclays increased their target price on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Coupang presently has an average rating of "Moderate Buy" and a consensus price target of $30.08.

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.

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