Coupang (NYSE:CPNG) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Key Points

• Coupang beat quarterly EPS expectations, reporting a loss of $0.09 per share versus analysts’ forecast of a $0.27 loss. Revenue totaled $8.86 billion, slightly below the $8.92 billion consensus estimate, while net margin and return on equity remained negative.
• Coupang shares traded around $16.81, well below the 12-month high of $34.08. Analysts maintain a consensus “Hold” rating with an average price target of $25.93.
• Institutional investors own 83.72% of the company, with several firms—including Virtu Financial, Corient Private Wealth and Mackenzie Financial—boosting their positions during the fourth quarter.

Coupang (NYSE:CPNG - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.18, FiscalAI reports. The business had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%.

Coupang Price Performance

Coupang stock traded up $0.39 during mid-day trading on Tuesday, reaching $16.81. 25,622,525 shares of the company were exchanged, compared to its average volume of 23,380,049. The firm has a market cap of $30.17 billion, a PE ratio of -186.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The company has a fifty day simple moving average of $17.00 and a 200-day simple moving average of $18.26. Coupang has a 12 month low of $14.92 and a 12 month high of $34.08.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC grew its stake in Coupang by 97.0% during the fourth quarter. Virtu Financial LLC now owns 16,747 shares of the company's stock worth $395,000 after buying an additional 8,248 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Coupang by 45.7% in the 4th quarter. Corient Private Wealth LLC now owns 96,441 shares of the company's stock valued at $2,275,000 after buying an additional 30,260 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Coupang by 28.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,726 shares of the company's stock worth $324,000 after acquiring an additional 3,057 shares during the period. Vident Advisory LLC lifted its holdings in shares of Coupang by 2.1% during the 4th quarter. Vident Advisory LLC now owns 43,146 shares of the company's stock worth $1,018,000 after acquiring an additional 906 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Coupang by 55.8% during the 4th quarter. Mackenzie Financial Corp now owns 164,232 shares of the company's stock worth $3,955,000 after acquiring an additional 58,825 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CPNG shares. CLSA started coverage on Coupang in a report on Monday, June 15th. They set an "outperform" rating and a $24.00 price objective for the company. Bank of America lowered their target price on Coupang from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Weiss Ratings downgraded Coupang from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, May 7th. Mizuho decreased their price objective on Coupang from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $25.93.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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