Coupang Q3 Earnings Beat Estimates with 27% Revenue Growth, CEO Bom Kim Announces Upcoming Stock Sale
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2024
0mins
Source: Benzinga
Coupang's Strong Q3 Performance: Coupang, Inc. reported a 27% year-over-year increase in net revenues to $7.9 billion, exceeding expectations, with significant growth in gross profit and adjusted EBITDA, reflecting strong performance in its Product Commerce segment.
CEO's Stock Trading Plan: CEO Bom Kim has adopted a pre-arranged stock trading plan allowing him to sell up to 15 million shares of Coupang Class A Common Stock starting November 11, 2024, while the company's shares saw an 8.18% decline in premarket trading.
Analyst Views on CPNG
Wall Street analysts forecast CPNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CPNG is 33.83 USD with a low forecast of 22.00 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
4 Buy
2 Hold
0 Sell
Moderate Buy
Current: 19.950
Low
22.00
Averages
33.83
High
40.00
Current: 19.950
Low
22.00
Averages
33.83
High
40.00
About CPNG
Coupang, Inc. is a technology company that provides retail, restaurant delivery, video streaming, and fintech services to customers around the world under brands, such as Coupang, Coupang Eats, Coupang Play, Farfetch, and Rocket Now. Through its AI cloud computing service as Coupang Intelligent Cloud (CIC), it enhances its services and operations and provides GPU-as-a-Service (GPUaaS), including to external parties. Its Product Commerce segment includes its core Korean retail (owned inventory) and marketplace offerings (third-party merchants) and Rocket Fresh, its fresh grocery offering, as well as advertising products associated with these offerings. Its Developing Offerings include Coupang Eats, its restaurant ordering and delivery service in Korea, Coupang Play, an online content streaming service in Korea, fintech, its retail operations in Taiwan, as well as advertising products associated with these offerings, and also include Farfetch, its global luxury fashion marketplace.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
